What Is Stanford After With Its Asset Sale?
There's been a resounding silence from Palo Alto on this and all other questions regarding Stanford's offer to sell a large number of its assets on the secondary market -- pretty much the whole portfolio, according to one source. News of the proposed sale followed a drop in Stanford's endowment last month of 27%, possibly the university's largest loss ever. "Trying to put a portfolio that huge out to market is very unusual," the source said. "Bulk portfolios are not selling, and most sellers try to do sales quietly, to a targeted group of buyers." Keeping a sale this large a secret, though, is impossible -- too many people know about it and will talk -- so maybe Stanford is trying to avoid the stigma that was attached to Harvard last year,
1 October 2009•2 mins read
