MIT
EndowmentMassachusetts · as of FY2024
AUM
$24B
Held in U.S. securities
$4B
16% of AUM
Return target
~7.5% nominal
Asset allocation policy
Target weights set by the investment committee in the plan's Investment Policy Statement.
| Asset class | Target | $ value |
|---|---|---|
| Hedge funds | 30% | $7B |
| Private equity | 28% | $7B |
| Public equity | 18% | $4B |
| Real estate | 11% | $3B |
| Real assets | 6% | $1B |
| Fixed income | 5% | $1B |
| Cash | 2% | $0B |
Holdings overview
Direct real estate is ~10% of total assets — far higher than peers — through MITIMCo's campus-adjacent commercial portfolio. Hedge fund allocation among the largest in the peer group.
Board mandates
- MITIMCo manages all of MIT's investable assets — endowment plus retirement plan plus real estate.
- MIT owns ~12 million sq ft of Cambridge real estate (Kendall Square / MIT campus periphery), giving an unusually large direct real estate book.
- Endowment provides ~30% of MIT's operating revenue.
Spending rule
~5% target on trailing 3-year average market value
Source: mitimco.org