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Stanford U. looking to sell $1 billion in assets: report
NEW YORK |
NEW YORK (Reuters) - Stanford University is looking to sell as much as $1 billion worth of investments including private equity investments, real estate and timberlands, the Wall Street Journal reported, citing unnamed people familiar with the matter.
The university, which lost about a quarter of its endowment last year, is weighing offers on all of its illiquid investments, worth about $5 billion, but is only interested in selling parts of its investments, the Journal reported.
The university is looking to sell only about 10 percent to 20 percent of its private-equity, venture-capital, oil-and-gas, timber and real-estate holdings, but could sell more in various areas depending on demand, the newspaper said.
(Reporting by Sinead Carew; Editing by Gary Hill)
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