While most endowments and foundations are working to ensure they have ample liquidity, The Dietrich Foundation is taking the opposite approach. Roughly 90 percent of its $1.6 billion portfolio is allocated to venture capital and private equity — and only 2 percent is in cash. “We don’t have a great need for liquidity. But that’s by design,” Ed Grefenstette, CEO and CIO of The Dietrich Foundation, told Institutional Investor.
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