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Endowments and Foundations

Grinnell College endowment posts 18.8% return

Grinnell College, Grinnell, Iowa, returned a net 18.8% on its endowment for the fiscal year ended June 30, said Scott L. Wilson, outgoing chief investment officer.

Mr. Wilson said the $1.9 billion endowment outperformed its performance benchmark over the period. An exact figure was not immediately available.

By asset class, distressed debt returned 27.4%; public equities, 25.2%; hedge funds, 19.5%; private equity, 18.5%; growth equity, 17.9%; venture capital, 9.7%; and real assets, 8.5%.

Those results are preliminary.

As of June 30, the endowment had a target asset allocation of 40% public equities, 30% private equity, 12.5% hedge funds, 10% fixed income and cash, and 7.5% real assets.

For the five and seven years ended June 30, the endowment returned an annualized 10% and 9.5%, respectively. Benchmark returns for those periods were not immediately available.

In other news, Mr. Wilson said Andrew Choquette, Grinnell's director of investments, will most likely be appointed acting CIO. Mr. Wilson's last day at Grinnell is Nov. 12. He is set to become CIO of Washington University in St. Louis on Dec. 1.