31.10.2025 Opalesque Exclusive: Elite endowments' secret weapon: AI and crypto drive outperformance
Matthias Knab, Opalesque for New Managers:

Michigan, MIT, and Stanford endowments outperformed peers by 200-300 bps in FY2025. Analysis from Markov Processes International reveals concentrated AI and crypto bets, not manager selection, drove the exceptional 14-15% returns.

The Performance Puzzle

When fiscal year 2025 endowment returns were publi

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