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☆ The University of California invested $4 billion with Blackstone to buy up rental apartments and student housing, which they see as the bright spots in the real estate market this year
▼ + stars: | 2023-01-03 | by ( Robert Davis | ) www.businessinsider.com time to read: +4 min

The University of California is investing $4 billion with Blackstone to acquire rentals and student housing. The investment comes at a crucial time for Blackstone's Real Estate Income Trust Inc. fund — also known as BREIT— a $68 billion property investment vehicle. "We consider BREIT to be one of the best positioned, large-scale real estate portfolios in the US, managed by one of the world's top real estate investors," said Jagdeep Singh Bachher, the University of California's chief investment officer. The University of California's investment could become a model for other universities with large endowment funds — typically in the billions of dollars — that want to invest in real estate investment trusts or commercial real estate assets. BREIT's portfolio includes assets in popular college towns such as Fort Collins, Colorado, where Colorado State University is located, and Baton Rouge, Louisiana, which is home to Louisiana State University, according to the fund's website.

☆ A Beverly Hills mansion that MacKenzie Scott donated to a housing charity sold for $37 million, report says
▼ + stars: | 2022-11-20 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +2 min

MacKenzie Scott gave two Beverly Hills mansions to a housing charity in September. The 12,000-square-foot home was one of two properties given to the California Community Foundation by Jeff Bezos's ex-wife in September. Bezos and Scott bought the home in 2007 for about $24.5 million. The Spanish-style home in Beverly Hills has sold for $37 million. California Community Foundation didn't immediately respond to a request for comment by Insider.

☆ Stanford lost 4% on its investments after making 40% a year ago, as slumping markets hit university endowments
▼ + stars: | 2022-11-01 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

Stanford University's endowment posted a 4% loss after gaining 40% the year before, per the WSJ. Other leading US schools have seen big swings from record returns on endowments to losses, it reported. It was among several academic institutions that saw falling returns on investments in the fiscal year ended June 30, the WSJ reported Monday. Meanwhile, Harvard University, the richest college in the US with a $51 billion endowment, saw a 1.8% loss after scoring a 33.6% gain. Stanford ranked third out of the 10 US universities with the largest endowments in 2021, per Statista, with an endowment fund value of $37.8 billion.

☆ Harvard loses money in 2022 fiscal year as tumbling stocks hurt endowments
▼ + stars: | 2022-10-13 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

NEW YORK, Oct 13 (Reuters) - Harvard University's endowment fund, the world's largest university endowment, lost money during the last year, marking a dramatic U-turn from the previous year's double-digit gains. Rattled by tumbling global markets, Harvard Management Co said it lost 1.8% in the fiscal year ended June 30, leaving the total endowment at $50.9 billion. Brown University lost 4.6%, decreasing the value of its endowment to $6.5 billion, the school said. Harvard's endowment chief noted that some other universities boosted returns by getting into the conventional energy sector. Last year, Harvard pledged to stop investing in fossil fuels after years of pressure from students, faculty and alumni.

☆ MacKenzie Scott donates $15 million to a social enterprise that provides affordable eyeglasses to millions of people
▼ + stars: | 2022-10-13 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +2 min

Philanthropist MacKenzie Scott has given $15M to a social enterprise that provides cheap eyeglasses. VisionSpring said it'll help generate $1 billion in income for agricultural and artisan workers. Scott has pledged to give away most of her fortune as part of the Giving Pledge she signed in 2019. Scott recently gave two Beverly Hills mansions worth about $55 million to the California Community Foundation. It is the second time Scott has assisted the charity following her $20 million donation last year to establish the LA Arts Endowment Fund.

☆ The electric vehicle boom depends on mining. Rivian's new chief sustainability officer is tasked with making it responsible.
▼ + stars: | 2022-09-28 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +4 min

Demand for metals like lithium and cobalt could jump sixfold alongside the electric vehicle boom. Rivian hired Anisa Kamadoli Costa to lead its climate strategy, including responsible mining. But that doesn't mean electric vehicle makers don't have their own set of climate and social challenges. "Traceability is the best means to transparency and to understanding one's social and environmental impact," Costa said during an Insider event moderated by Catherine Boudreau, senior sustainability reporter. Costa helped craft such a standard during her two decades as Tiffany & Co.'s chief sustainability officer.

☆ MacKenzie Scott, Jeff Bezos' ex-wife, gives 2 Beverly Hills mansions worth $55 million to a housing charity
▼ + stars: | 2022-09-10 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +2 min

MacKenzie Scott, the former wife of Jeff Bezos, gave two Beverly Hills mansions to a housing charity. She donated the properties, worth $55 million, to the California Community Foundation. The properties are located on N. Alpine Drive near Coldwater Canyon Park in Beverly Hills. The California Community Foundation said the donation by the 52-year-old billionaire and philanthropist would allow it to create more affordable housing in Los Angeles. Bezos and Scott's Spanish-style home in Beverly Hills.

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