Stanford Just Hired An Industry Veteran To Head The School's Real Estate Investment
Stanford Management—the investment arm that oversees Stanford's massive $22.2B endowment—named industry veteran Mark Shoberg its managing director of real estate.
Shoberg comes from a similar role at the University of Texas, where he oversaw the school's $35B portfolio, a position he held for over a decade. The hire is the latest personnel change under Stanford Management's new, CEO Robert Wallace, Bloomberg reports.
Since Robert took the wheel of the nation's fourth-largest endowment (as of last March), at least six senior staffers have left due to "strategy changes."
Stanford has about 55% of its portfolio in hedge funds and private equity firms, significantly more than other mega-endowment schools such as Harvard or Yale. [Bloomberg]