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Komfie Manalo, Opalesque Asia: Hedge funds and private equity investments fueled the 14.4% returns reported by Bowdoin College’s endowment, according to Stanley Druckenmiller, a longtime investment committee member of the endowment. This year’s gains is highest on record reported Bloomberg News.
Bowdoin is a private and liberal arts college based in Brunswick, Maine and founded in1794. Its alumni include the 14th president of the U.S. Franklin Pierce, and has produced several state governors, congressmen, as well as business and arts leaders.
Druckenmiller, the billionaire investor who is an alumnus of Bowdoin, said credit should be given to Paula Volent, the school’s chief investment officer who directed the college’s investments in macro hedge fund managers who bets in the decline in oil and currencies, as well as private equity funds.
Under Volent’s helm, Bowdoin’s endowment jumped 15 percent through June 30 to reach $1.4 billion, the highest on record. Over the past 10 years, the endowment’s average gain is nearly 10.5%.
"This investment performance is truly remarkable," said Bowdoin President Clayton Rose in a statement posted in the school’s official web site.
Separately, Stanley Druckenmiller, who manages Duquesne C...................... To view our full article Click here
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