{"id":58894,"date":"2017-07-11T08:37:10","date_gmt":"2017-07-11T12:37:10","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=58894"},"modified":"2017-07-11T08:37:10","modified_gmt":"2017-07-11T12:37:10","slug":"how-teachers-firemen-and-college-endowments-ended-up-enriching-americas-hedge-fund-billionaires","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/07\/2017\/how-teachers-firemen-and-college-endowments-ended-up-enriching-americas-hedge-fund-billionaires.html","title":{"rendered":"How Teachers, Firemen and College Endowments Ended up Enriching America&#8217;s Hedge Fund Billionaires"},"content":{"rendered":"<p>\n(The Business Insider) In the summer of 2015, Penn State&#8217;s endowment invested $50 million in Pershing Square Capital, a high-profile hedge fund run by New York City billionaire Bill Ackman. The endowment, one of the largest held by a university, invested as the fund was coming off years of stellar performance. Two years later, the fund has had a reversal of fortune. The Pershing Square International fund reported a loss of 16.6% in 2015 and a loss of 10.2% last year. The fund gained 1.83% through mid-June of this year.<\/p>\n<p>At those rates, a $50 million investment in 2015 would be worth about $38 million now. That doesn&#8217;t include annual fees, of about 1.5% of the assets (about $750,000 on the initial amount), paid to the hedge fund.<\/p>\n<p><a href=\"http:\/\/www.businessinsider.com\/college-endowments-and-public-pensions-enrich-hedge-fund-billionaires-2017-6\">To read this article:<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(The Business Insider) In the summer of 2015, Penn State&#8217;s endowment invested $50 million in Pershing Square Capital, a high-profile hedge fund run by New York City billionaire Bill Ackman. The endowment, one of the largest held by a university, [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-58894","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/58894","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=58894"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/58894\/revisions"}],"predecessor-version":[{"id":58895,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/58894\/revisions\/58895"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=58894"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=58894"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=58894"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}