Stanford joins five other US universities to have invested in Hillhouse, which has more than $18bn under management.
Stanford University has invested $200m in alternative investment management firm Hillhouse Capital Management, the Wall Street Journal has reported.
With the investment, Stanford joins Princeton University, Massachusetts Institute of Technology (MIT), University of Pennsylvania and the University of Texas System and Yale University. The six institutions are all among the top 10 wealthiest institutions in the US.
Hillhouse has more than $18bn under management, and also invests on behalf of foundations, sovereign wealth funds, pensions and family offices.
The firm was established a decade ago with an initial $20m commitment that founder Zhang Lei secured from Yale’s chief investment officer David Swensen following an internship at the investment office.
The endowments of Stanford, Princeton, MIT, and Pennsylvania are all overseen by former employees of Swensen.
Hillhouse’s portfolio includes ride-sharing app provider Uber, e-commerce company JD.com and Airbnb, which enables users to rent out their properties to others for holiday accommodation.
