Harvard University
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University endowments will be hoping that 2026 looks very different than the “parade of horribles” encountered last year.
Federal funding cuts, investigations into allegations of antisemitism and racial discrimination on campuses, and tax rate hikes weighed heavily on universities and colleges in 2025, forcing them to sell off long-term investments, boost spending and adjust their asset allocations.
At the same time, the largest university endowments, with over a quarter of their portfolios allocated to private markets, faced continued pressure from a lack of cash returns from their aging private equity commitments.
Below is a timeline of last year’s major events that impacted endowments, bringing you up to speed as 2026 gets underway.
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