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

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Kathryn J. Crecelius, who manages $2 billion in investments for MIT, will starg the new job by Oct. 1, Hopkinsz announced Friday. Crecelius will manage Hopkins' which was worth $2.165 billiom on June 30 -- the 24th-largest among American universities. She will be charged with buildintgthe university's first separate investment office. "This position represents an excitinbg opportunity to build an investment office for the 21st Crecelius said ina statement. Crecelius has been MIT'd managing director for "marketable alternative since 1998. In that role, she built one of MIT'sd portfolios, which includes such investments as hedge toabout $1.6 billion.
She also invested $429 million in assetsw from MIT's $2.3 billion retirement plan, accordinbg to Hopkins. Until now, the university' s investments have been handlef inthe treasurer's "The job has gotten too big for one particularly given the increased complexity of the endowment'sa investments," said William Snow, Johns Hopkins' in a statement. Endowment funds at Johns Hopkin s grew nearly 20 percenyt from 2003to 2004, accordinvg to the Endowment Study release earlieer this year. The study showed Johns Hopkins endowmen t funds grewfrom $1.7 billion in 2003 to more than $2 billio n in 2004.
By comparison, the and Foundation had $533 milliomn in endowment funds in according tothe NACUBO. The group reported that Johnws Hopkins endowments in 2004 were between Vanderbilt University in whichhad $2.29 billion in endowment funds and Brown University in Rhodde Island which had $1.6 billion. Harvard had the largesr endowment fundwith $22.14 billion in 2004.