Key Takeaways
- • Columbia University's endowment returned 18.3% in fiscal year 2026, the last of its Ivy League peers to report, the university announced.
- • Assets under management rose to $17.9 billion at the end of June.
- • Annualized returns were 7.5% over five years and 9.9% over ten years.
- • The hedge fund portfolio substantially outperformed its benchmark, with CIO Kim Lew citing AI-related sector exposure and geographic exposure as key drivers.
- • The endowment remains enthusiastic about private investments but will stay selective given high valuations in the asset class.
Summary
The endowment of Columbia University returned 18.3% in fiscal year 2026, the university announced Tuesday. As the last of its Ivy League peers to report performance, Columbia's endowment ended June with assets under management of $17.9 billion. Over the past five and ten years, the endowment reported annualized returns of 7.5% and 9.9%, respectively.
Kim Lew, president and CEO of Columbia University Investment Management Company, which oversees the university's endowment assets, attributed the returns to strong equity markets, hedge funds, and venture capital. In a statement, Lew said fiscal 2026 was the fourth consecutive year of double-digit returns in global equity markets, and that the endowment's global equity investments performed in line with those strong returns.
Lew identified the hedge fund portfolio as a significant driver of performance, noting that it substantially outperformed the benchmark. According to Lew, Columbia's hedge fund managers achieved exceptional outperformance due to both sector exposure, particularly AI-related exposure, and geographic exposure.
Despite these results, Lew said the endowment remains enthusiastic about private investment opportunities but will continue to be selective because of high valuations in the asset class.
According to the article, the endowment's allocation as of June 30, 2025 was 35% to global equities, 26% to both private equity and absolute-return strategies, 9% to real assets, 3% to cash, and 1% to fixed income.
Kim Lew, president and CEO of Columbia University Investment Management Company, which oversees the university's endowment assets, attributed the returns to strong equity markets, hedge funds, and venture capital. In a statement, Lew said fiscal 2026 was the fourth consecutive year of double-digit returns in global equity markets, and that the endowment's global equity investments performed in line with those strong returns.
Lew identified the hedge fund portfolio as a significant driver of performance, noting that it substantially outperformed the benchmark. According to Lew, Columbia's hedge fund managers achieved exceptional outperformance due to both sector exposure, particularly AI-related exposure, and geographic exposure.
Despite these results, Lew said the endowment remains enthusiastic about private investment opportunities but will continue to be selective because of high valuations in the asset class.
According to the article, the endowment's allocation as of June 30, 2025 was 35% to global equities, 26% to both private equity and absolute-return strategies, 9% to real assets, 3% to cash, and 1% to fixed income.
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