Carnegie Mellon University's $1.9 billion endowment returned a net 11.2% in the fiscal year ended June 30, said a report issued by the Pittsburgh-based school.
Carnegie Mellon's three-, five- and 10-year returns were 7.7%, 9.6% and 6.3%, respectively. Benchmark information was not provided in the report. The endowment returned a net 13.2% in the previous fiscal year.
The latest fiscal year marks the 14th anniversary of the university's decision to shift the focus of its portfolio to global private investments from listed securities, meaning the private portfolio is maturing. An asset allocation of the endowment was not provided.
"By pursuing a global investment strategy, focused on private equity investments and compounding returns over the long term, we believe the endowment is well positioned to continue its meaningful role supporting the university's students, faculty and programs," said Charles A. Kennedy, chief investment officer, in a news release announcing the report.
CMU spokesman Jason Maderer could not be immediately reached for additional comment.