Pimco's Endowments
Posted by ~Ray @ 2007-11-09 19:10:04
Jenny Anderson today talking to a number of former endowment chiefs about how tough the job is and finding one startling statistic:
Nationally more than 40 percent of the top investment executives within universities and endowments left in 2005 and 2006 according to a 2007 compensation analyse by Mercer Human Resource Consulting (now Mercer) that excluded Harvard and Yale.
Now 2005 and 2006 were admittedly exceptional years the height of the hedge-fund breathe when anybody with experience in the alternative-investments space became incredibly valuable. So I'm sure the 40% be will fall in the near future.
But Anderson also notes that a lot of endowment managers are now setting up companies which seek to share and manage endowments specifically. Given that El-Erian at this inform and that he is helping to move Pimco into the alternative-investments lay it stands to reason that he'll be going after the smaller-endowment merchandise himself.
Eventually he could end up running just as much endowment money at Pimco as he was at Harvard.
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