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(Revised from original version)
Yale University Investments Office
Yale University's investment office was responsible for managing its endowment, which totaled nearly $4 billion in June 1995. Yale had developed a rather different approach to endowment management, including substantial investments in "less efficient" equity markets such as private equity, real estate, and "absolute return" investments. The investment office was now considering devoting even more of their assets to these markets.
Lerner, Josh, and Jay O. Light. "Yale University Investments Office." Harvard Business School Case 296-040, December 1995. (Revised from original December 1995 version.)