Breaking: Harvard's Endowment Surges 11.3 Percent to $32.7B!!!
Harvard University's endowment earned an 11.3 percent gain on investments in the most recent fiscal year to surge to $32.7 billion, university officials said.
The endowment for the nation's wealthiest university for the fiscal year that ended June 30, however, remains well below the high-water mark of almost $37 billion reached in 2008 before the worldwide financial crisis cost Harvard about $11 billion.
Jane Mendillo, president and CEO of Harvard Management Co., which oversees the Ivy League university's investments, said the endowment beat benchmarks and has recovered well since the recession started.