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10 Most Important Reads Of The Week - Feb 10, 2017

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Venture Capital

It has been an eventful week, and it's easy to fall behind. Here are the 10 most important reads of the week.

How The 10 Richest Universities Invest Their Money. In the United States, the ten largest university endowments manage a total of $177 billion in assets (close to a third of the national total). Here are detailed asset allocations of the ten largest university endowments in the United States:

The ‘Hamilton’ Ponzi Scheme That Fooled Michael Dell, Other Billionaires. When U.S. authorities busted a Ponzi scheme that centered on marked-up tickets to the hit Broadway musical “Hamilton” last month, prosecutors described phone calls about a “big name” investor who’d demanded his money back.

Hedge Fund Industry's Quietest Star Foresees Dark Days For Economy, Markets, Hedge Funds. A private letter he wrote to his investors a little over two weeks ago about investing during the age of President Trump -- and offering his thoughts on the current state of the hedge fund industry -- has quietly become the most sought-after reading material on Wall Street.

Snap's IPO Means A Huge Windfall For These VC Investors. Snap's IPO will mean a big windfall for early venture capital investors. Here's who stands to win biggest from early bets on the company once known as Snapchat after it filed to go public on Thursday.

How PE Funds Can Overstate LP Returns By Up To 50%. Private equity funds are the widely accepted investment strategy for pensions, endowments, family offices and other investors to access the private markets. But the reported returns of PE funds are misleading, representing only a partial view of the capital involved.

January People Moves: Super Funds’ New Exec Hires, VC Firms Add Partners. January was a busy month for an endowment giant, super sized corporate fund and Silicon Valley. Here are the important institutional investment job changes in January:

This Is Who George Soros Trusts To Oversee His $25B Family Office. Fitzpatrick, 46, was global head of equities, multi-asset investing and the O’Connor hedge fund unit at UBS Group AG’s money management arm. She’ll be the first woman to hold the CIO role at Soros Fund Management, which is among the largest family offices in the U.S.

LPs Miss Opportunity To Fight Back On Fees. New Jersey's state Division of Investment had just informed the council that TSG Consumer Partners would be increasing the annual management fee on two investment funds that held final closes in 2015, a move that could cost New Jersey pensioners as much as $100,000 per year in additional fees.

Why Citadel’s Ken Griffin Can’t Keep His Star Hires. Ken Griffin isn’t a people person. The billionaire founder of hedge fund Citadel has proved himself an adept reader of markets and a savvy investor, thriving in areas of finance where an otherworldly mastery of electronic markets takes precedence over personal relationships.

Harvard’s $1.2B Haul Erased by Investing Loss, Payout. Harvard University raised $1.2 billion from donations, a record for the world’s richest college. The haul was erased by $2 billion in investment losses and spending.