University of California Sees Assets Under Management Jump $7.4 billion in a year; PE a stellar performer

September 17, 2019 | Private Equity

The University of California saw AUM grow to $ 126.1 billion as of June 30, 2019

The University of California has seen its AUM jump by $30 billion over the last five years.

The highlight of the University’s investment performance for the year was the impressive return of 27.4% achieved by the Private Equity asset class in the Endowment product, pushing its value up 8.24%.

UC Investments by asset class and product

The aggregate amount of $ 126.1 billion includes the following asset classes:

  • public equity $ 62.2 billion
  • fixed-income $ 37.3 billion
  • private equity $ 6.1 billion
  • real estate $ 5.5 billion
  • absolute return $ 8.6 billion
  • others and cash $ 6.3 billion

The total assets under management of the University, product-wise, comprise:

  • pension $ 70 billion
  • retirement savings $ 25.6 billion
  • working capital $ 14.7 billion
  • Fiat Lux $ 1.1 billion
  • Blue and Gold Pool $ 1.3 billion
  • Endowment $ 13.4 billion

Focus: University of California Endowment

Assets under management at the Endowment grew $ 1.1 billion over the one year ended June 30, 2019. This figure includes market gains of $ 0.7 billion. That marks a growth of 8.2%.

Assets under management at the Endowment comprise:

  • public equity $ 5 billion
  • fixed-income $ 2 billion
  • private equity $ 1.9 billion
  • real estate $ 0.9 billion
  • others $ 3.6 billion

Stellar returns on private equity investments

The Endowment earned an overall 8.2% return over one year against a policy benchmark rate of 5.7%.

Over three years, net returns were 10.7% against the benchmark rate of 8.9%.

In private equity, the Endowment earned 27.4% over one year and 23.7% across three years. The benchmark rates were 10.5% and 15.9% respectively; showing solid outperformance in private equity.

Comparatively, public equity earned 4.6% over one year and 13.0% across three years. The benchmark rates were 4.7% and 11.9% respectively.

Finally, performance results will be discussed at the September 17, 2019 meeting of the UC Board of Regents’ Investments Committee.

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