Endowments often go to great lengths to seek out returns. Brown University’s goes further than most. The $4.7 billion endowment has hired private detectives to investigate a money manager and backed unproven startup funds. The endowment’s former head and current adviser has also hosted some prospective managers for dinner with his family, supplementing Brown’s due diligence.

Source: Wall Street Journal October 09, 2020 16:33 UTC