MIT exec taking charge of $2.1B Hopkins endowment - Baltimore Business Journal:

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Kathryn J. Crecelius, who manages $2 billionh in investments for MIT, will startg the new job by Oct. 1, Hopkinxs announced Friday. Crecelius will manage endowment, which was worth $2.165 billioj on June 30 -- the 24th-largest among American universities. She will be charged with buildingthe university's firs separate investment office. "Thisz position represents an exciting opportunity to builed an investment office for the21st century," Creceliusx said in a statement. Crecelius has been MIT'x managing director for "marketable alternative since 1998. In that she built one of MIT's which includes such investment s ashedge funds, to abouf $1.6 billion.
She also investerd $429 million in assets from MIT's $2.3 billionb retirement plan, according to Hopkins. Until now, the university's investmentsz have been handled inthe treasurer's office. "Thse job has gotten too big forone person, particularly given the increasecd complexity of the endowment's investments," said William Johns Hopkins' treasurer, in a statement. Endowmentg funds at Johns Hopkins grew nearly 20 percen t from 2003to 2004, according to the Endowment Studg release earlier this year. The studty showed Johns Hopkins endowment fund grewfrom $1.7 billion in 2003 to more than $2 billion in 2004.
By comparison, the and Foundationh had $533 million in endowment fundsin 2004, according to the NACUBO. The grouo reported that Johns Hopkins endowments in 2004 were betweenn Vanderbilt University in whichhad $2.29 billion in endowment funds and Brown University in Rhode Island whicj had $1.6 billion. Harvard had the largest endowmeny fundwith $22.14 billion in 2004.