Updated Oct. 18, 2:33 p.m.
Columbia’s endowment reported a return of 13.7 percent for the 2017 fiscal year on Tuesday, raising the fund’s value to $10 billion.
The gain marks an increase on the negative 0.9 percent the University returned last year. Columbia’s returns place it third from the top compared its Ivy League peers, tied with Brown and ahead of Dartmouth at 14.6 percent and University of Pennsylvania at 14.3 percent.
With a 10-year investment return of 7.3 percent, the University topped the Ivy League in terms of overall returns.
These returns are the first under the new Chief Executive Officer Peter Holland leading the Columbia University Investment Management Company, which oversees Columbia’s investment strategy. Nirmal P. “Narv” Narvekar, who led the endowment from 2002 to 2016, left in last October to lead Harvard University’s $37.1 billion endowment.
According to data compiled by Bloomberg, the average investment return among Ivy League universities was 12.6 percent, recovering from disappointing returns last year. All eight universities, with the exception of Yale, faced losses in the 2016 fiscal year.
At over $10 billion, the University’s endowment is the fourth smallest endowment of the Ivy League. Columbia trails Harvard, Yale, and Princeton, each of which has an endowment over $20 billion.
According to a statement released by the University, these numbers reflect a “normal one-quarter lag in private equity and real asset valuations.” Columbia declined to release details regarding asset allocation or asset class performance, according to Pensions & Investments.
Correction: A previous version of this article incorrectly stated that the University’s endowment reported a return of 13.4 percent. In fact, it was 13.7 percent. Spectator regrets the error.