Stanford Management Co. returned a net 6.5% for the fiscal year ended June 30, said a news release Wednesday from Stanford University, Palo Alto, Calif.
The management company, which manages $29.6 billion in merged investment pools that include the university's endowment, Stanford Health Care and Lucile Packard Children's Hospital, said there were $1.8 billion in investment gains during the period.
"Results were aided by particularly strong performance in private equity, the largest single asset class in the merged pool portfolio," said Robert Wallace, CEO of Stanford Management, in the news release.
The university did not provide benchmark information, but said the fiscal year return exceeded the median 4.9% fiscal year return for U.S. colleges and universities, according to Cambridge Associates data.
For the five and 10 years ended June 30, the endowment returned an annualized net 7.4% and 10.2%, respectively. The endowment returned a net 11.3% for the fiscal year ended June 30, 2018.
The news release did not report the endowment's asset allocation or performance of individual asset classes or benchmark returns. The management company's annual report has yet to be released.
University spokesman E.J. Miranda could not be immediately reached to provide further information.