IMC CEO Statement on FY23 Endowment Returns

October 17, 2023

The total value of Columbia’s endowment as of June 30, 2023 was $13.6 billion, reflecting a return of 4.7% on the assets managed by Columbia University Investment Management Company, as well as gifts and transfers, and spending from the endowment in fiscal 2023. The University’s trailing ten-year return is 8.0%.

“The Columbia investment portfolio benefitted from strong public markets performance in the United States in fiscal 2023, and was also bolstered by hedge fund outperformance relative to benchmarks,” stated Columbia IMC President and CEO Kim Lew. “While our private assets portfolio was modestly negative in aggregate this past year, we believe that private markets continue to offer investment opportunities at favorable valuations in segments that will outperform over the next market cycle. Overall, the investment team continue to reposition and strengthen the portfolio, and we are excited for the opportunities ahead.”

Columbia’s endowment is a critical form of support for University academic programs, faculty research, and student financial aid. Due in large part to the generosity of donors and endowment support, in the spring of 2023, Columbia announced enhancements in financial aid to support undergraduates in the College, the Fu Foundation School of Engineering and Applied Sciences, and the School of General Studies.