2026 Endowments and Foundations Survey (Morgan Stanley)
Endowments and foundations are navigating a portfolio landscape where alternatives have moved into the core of the…
Endowments and Foundations
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The Perpetuity Trap: Why Foundation Endowments Misallocate Capital
This paper argues that perpetuity is not a neutral container but a capital structure with its own logic, and that…
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Connecticut’s Pre-K Endowment Diverts Pension Dollars (Reason Foundation)
In diverting surplus money away from reducing Connecticut’s pension debt, the funding mechanism for the pre-K…
From Buy-and-Hold to Buy-and-Help: A Value-Creation Capability for Asset Owners
Long-term asset owners have spent decades professionalizing how capital is allocated and invested, but far less…
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Institutional allocators retain focus on long-term goals
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