We examine the link between endowment investment performance and human capital. Harnessing detailed information on endowments in higher education, their in-house investment staff, and their trustees, we find that expertise in alternative assets and larger professional networks are associated...

This paper provides the first study of compensation and pay-for-performance for top executives at non-profit endowments and foundations. Using detailed IRS filings over the 2009-2017 period, we find that pay packages of Chief Investment Officers (CIOs) depend more heavily on bonuses than do...