(Bloomberg) -- Duke University's endowment posted an investment gain of 12.9 percent for the year ended June 30, one of the highest performances reported by the wealthiest colleges.
The fund was valued at a record $8.5 billion, the private school in Durham, North Carolina, said Saturday in a statement.
The school declined to comment on specific investments, strategies or asset allocation. Other elite schools have reported double-digit gains driven by strong private equity and venture capital returns.
The performance compares with a median 8.3 percent gain for 143 endowments of all sizes in the period, according to preliminary data by Cambridge Associates. Duke's fund returned 7.4 percent, 9.2 percent and 6.6 percent for three, five and 10 years, respectively.
Neal Triplett has been chief executive officer of Duke University Management Co., the endowment's management company, since 2007.
To contact the reporter on this story: Janet Lorin in New York at jlorin@bloomberg.net
To contact the editors responsible for this story: Margaret Collins at mcollins45@bloomberg.net, Mary Romano, Melissa Karsh
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