September 22nd, 2013 | University

Endowment may have reached $21 billion

A recruitment email from the Yale Investments Office suggests the value of Yale’s endowment rose a couple billion dollars in the latest fiscal year.

While the University has yet to release its endowment return for the 2013 fiscal year — a figure generally announced around the end of September — a Sunday email from a financial analyst in the Investments Office encouraged seniors to come to an information session about job opportunities and meet “the team that manages Yale’s $21 billion endowment.”

As of June 30, 2012, the last date for which Yale reported the standing of its investments, the endowment was valued at roughly $19.3 billion.

Provost Benjamin Polak told the News in mid-September that Yale’s investments had achieved a return in fiscal 2013 that was well above the University’s target of 7 percent. The figure in the recruitment email would fall in line with Polak’s projection: If accurate, the endowment has grown by roughly 8.8 percent last year through donations and investments returns, even after spending distributions have been taken into account.

Most of Yale’s peer schools have yet to release their returns, though the University of Pennsylvania announced Thursday that its endowment posted a 14.4 percent return for fiscal year 2013.