Stanford moves to liquidate $1B in investments
Stanford Management Company, the corporate unit that invests money on behalf of Stanford University, announced that it will pursue a secondary sale of about $1 billion of its $6 billion in alternative equity investments and some of its unfunded liabilities.
Actually based in Stanford, Calif., the company says the sale is necessary to re-balance its portfolio in response to the tough economic conditions following last fall’s downturn. It says it will only be looking for buyers interested in minority stakes in its offered investments, which include natural resources, real estate and some distressed securities. The company will retain majority stakes.
The value of Stanford’s holdings, including its endowment was reported to be $14.5 billion as of the end of June.
Next Story: XOJet soars with $470M more for private jet time shares
Previous Story: iPhone app marketing and monetization meetup tonight
About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.
With GreenBeat 2009, VentureBeat's all-star conference on all things Smart Grid, coming up in November, Camille will be expanding coverage of this exciting space. Stay up to date by following @greenbeat2009 on Twitter or by becoming a fan of the event on Facebook here.