There is huge competition for money managers fighting to oversee endowments. The business has grown into an almost $100 billion business, attracting stiff competition amongst banks, consultants, and boutiques. This area of money management represents a rare area of potential growth for those currently competing with index- and computer-driven strategies. University endowments also offer access to wealthy benefactors that can become future clients.
See Michael McDonald, Wall Street Redoubles Fight to Manage $100 Billion at Endowments, Bloomberg, August 29, 2016.
Special thanks to Joel Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.
