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Private Capital | Articles

What’s the Difference? Time-Weighted Return vs. Internal Rate of Return

Investors often ask about the difference between time-weighted return (“TWR”) and internal rate of return (“IRR”). In general, TWR is used by the investment industry to measure the performance of...
Perspectives | Press Releases

2019 Council on Foundations-Commonfund Study of Foundations Released

National Study Reports Strong Investment Results in 2019 Increased Foundations’ Intermediate-Term Returns   Data from the Council on Foundations-Commonfund Study Show Spending in Support of Mission...
Private Capital | Videos

Commonfund Manager Spotlight | Stellex Capital Management

In celebration of Black History Month, Commonfund Institute Executive Director, George Suttles, and Commonfund Director, Nicole Melwood, interview Ray Whiteman, Managing Partner and co-Founder of...

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Governance and Policy | Insights Blog

Constructing Investment Portfolios for Endowments

There are fundamental principles of effective endowment management that we have organized into what we call “the 6 Ps of Investment Stewardship” –  Purpose, Policy, Process, Portfolio, People and... Learn More
Diversity | Videos

A Fireside Chat with Darren Walker | From Generosity to Justice

Forum 2021 keynote speaker and Ford Foundation President, Darren Walker, shares his bold vision for the future of philanthropy. Since his arrival in 2013, Mr. Walker has transformed the venerable...
Governance And Policy | Videos

Infinite Challenges, Endless Opportunities, Finite Resources

Board members, trustees and others that have oversight of endowed portfolios have well-documented fiduciary duties that govern how they carry out those responsibilities. In times of relative calm,...
Outsourced Cio | Videos

Tools for Creating Effective Strategic Policy

Commonfund has worked with nonprofit investors for 50 years. Over that time, we have developed a set of proprietary tools and data to assist boards and investment committees in their quest to create...
Diversity | Videos

Promoting Gender Equity in Leadership Roles

Dr. McElhaney is on faculty as a Distinguished Teaching Fellow and the Founding Director of the Center for Equity, Gender and Inclusion (EGAL) at the Haas School of Business at the University of...
Governance And Policy | Insights Blog

What Does the NTSE One-year Number Tell You? As it Turns Out, Not Much.

I love the NACUBO-TIAA Study of Endowments. Every year, I eagerly await the annual report from the National Association of College and University Business Officers on the investment performance and...
Private Capital | Press Releases

13th Venture Capital Fund Closes at $625 Million Cap

Commonfund Capital Venture Partners XIII, L.P. includes Capital Commitments from Foundations, Endowments, Pensions and Family Offices Wilton, CT March 18, 2021 – Commonfund Capital today announced...
Governance And Policy | Insights Blog

Viewpoint | Why are Gifts to Endowments Declining?

For the third straight year, Commonfund Benchmarks Study® of Independent Schools (CSIS) participants reported average new gifts to endowment declined, this year falling to an average of $1.2 million...
Diversity | Insights Blog

From Generosity to Justice | Observations from the President of Ford Foundation

The theme for Commonfund Forum 2021 was “Transformation.” The objective of the agenda was to deliver timely, useful content on core subjects related to nonprofit endowment and financial management...
Governance And Policy | Insights Blog

What Strategic Decisions are Investment Committees Focused On?

Independent schools have been faced with fundamental shifts in their business model and have adapted to stay true to their educational missions. This year has been particularly difficult for many...
Market Commentary | Insights Blog

Chart of the Month | The Stock Market Rally May Finally Be Broadening Beyond Tech Names

The trend of improving performance of sectors most sensitive to the strengthening economy remained on track in February 2021. For the most part of 2020, the traditional S&P 500 market-cap-weighted...
Investment Strategy | Insights Blog

Allocating to Illiquid Investments

Stewards of endowments have long been advised that allocating to illiquid investments is critical to achieving long-term returns. Rather than trust conventional wisdom, Commonfund conducted research...
Governance And Policy | Articles

Viewpoint | The Ever-Evolving 80/20

On average over the past decade, independent schools participating in the Commonfund Benchmarks Study® of Independent Schools have maintained an asset allocation that stays within a few percentage...