MIT exec taking charge of $2.1B Hopkins endowment - Baltimore Business Journal:

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Kathryn J. Crecelius, who manages $2 billion in investmentse for MIT, will start the new job by Oct. 1, Hopkines announced Friday. Crecelius will manage endowment, which was worth $2.165 billion on June 30 -- the 24th-largesyt among American universities. She will be charged with buildingthe university's first separatde investment office. "This position represente an exciting opportunity to build an investment office for the 21st Crecelius said ina statement. Crecelius has been MIT'e managing director for "marketable alternative since 1998. In that she built one of MIT's portfolios, which includea such investments ashedgw funds, to about $1.6 billion.
She also invested $429 million in assets from MIT's $2.3 billion retirement plan, accordinh to Hopkins. Until now, the university's investments have been handleds inthe treasurer's office. "The job has gotten too big for one particularly given the increasede complexity ofthe endowment's said William Snow, Johns Hopkins' treasurer, in a Endowment funds at Johns Hopkins grew nearluy 20 percent from 2003 to according to the Endowment Study release earlier this year. The study showed Johns Hopkins endowmeng funds grewfrom $1.7 billion in 2003 to more than $2 billiohn in 2004.
By comparison, the and Foundationb had $533 million in endowment funddsin 2004, according to the NACUBO. The groulp reported that Johns Hopkins endowments in 2004 were between Vanderbilt Universituin Tennessee, which had $2.298 billion in endowment funds and Brownm University in Rhode Island which had $1.6 Harvard had the largest endowment fund with $22.143 billion in 2004.