Case | HBS Case Collection | December 1997 (Revised September 1998)

Yale University Investments Office: November 1997

by Josh Lerner


David Swensen, chief investment officer at Yale University, reviews the $6 billion endowment strategy, which places an unusually heavy emphasis on private equity and other illiquid securities. Changing market conditions in November 1997 cause him to rethink historically successful approaches. A rewritten version of an earlier case.

Keywords: Change; Private Equity; Financial Liquidity; Investment; Marketing Strategy; Strategy; Education Industry;


Lerner, Josh. "Yale University Investments Office: November 1997." Harvard Business School Case 298-077, December 1997. (Revised September 1998.)