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UNC Endowment Soars on SpaceX Bet
20 Sep
Summary
- UNC's endowment returned 37.8% in the fiscal year.
- A 15-year-old SpaceX investment drove exceptional performance.
- The university outperformed its peer institutions.
The University of North Carolina's endowment experienced a substantial surge, reporting a 37.8% return for the fiscal year that concluded in June. This figure notably surpasses the performance of its peer institutions, underscoring a period of exceptional financial growth.
The driving force behind this remarkable outcome was an investment in SpaceX, initially made more than 15 years prior. This early stake has yielded significant dividends, contributing massively to the endowment's overall success.
Public documents were released in anticipation of a board of trustees meeting, detailing the achievements of the University of North Carolina Management Co. The strong returns reflect a successful long-term investment strategy.
