Stanford Management Company (SMC), which manages the investment assets of Stanford University, has determined that it will not sell a portion of its private equity illiquid investments.
SMC had explored the possible sale of less than 7 percent of its total investment portfolio, or up to $1 billion of $6 billion in illiquid investments after the portfolio was buffeted by declines in late 2008 and early 2009. SMC reviewed initial bids this October. The university had not intended to sell majority interest in any single investment partnership. The assets include private equity investment partnerships in buyout, growth and venture funds as well as in natural resources, real estate and distressed securities.
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