Hopkins University has unveiled new investment goals after exceeding its initial HopkinsLocal goals over the past six years. The university's HopkinsLocal initiative, which was launched in 2015, aimed to increase economic opportunities for local residents and businesses in Baltimore. The program exceeded its goals by creating more than 6,000 jobs, awarding over $500 million in contracts to local businesses, and investing over $75 million in local anchor institutions.
The new investment goals include a commitment to investing $500 million in local businesses and organizations over the next five years. Hopkins also plans to hire 300 new employees from Baltimore's neighborhoods and invest an additional $15 million in Baltimore-based anchor institutions. The university also aims to purchase $75 million in goods and services from local businesses annually.
Chris Lenox, the former chief investment officer at Johns Hopkins University, was recently promoted to deputy CIO, while Katherine Harman took over as managing director of investments. Lenox and Harman will oversee the university's investment portfolio, which includes the endowment, pension, and other assets.
The university's endowment, which was valued at $5.7 billion in fiscal 2020, saw a drop of roughly $1 billion in fiscal 2021. The drop comes just one year after the institution saw its endowment grow by $2.5 billion. Despite the decrease, Hopkins remains one of the wealthiest universities in the country.
The NFL offseason has begun for the 18 teams that did not qualify for the postseason. With that, the rumor mill has started up, and reports suggest that Hopkins could be a potential target for an NFL team looking to relocate. The university has not commented on the rumors.
Investment scams are becoming increasingly common, and readers are warned to be vigilant. Some scams are undetectable, while others make claims that seem too good to be true. It is essential to do your research and seek advice from a financial professional before investing your money.
Bank of America has appointed Nick Hopkins as a managing director within its technology, media, and telecoms team. Hopkins will be responsible for developing relationships with clients in the media and entertainment industries.
A-Level Capital, a student-run venture capital firm founded by Hopkins alums, provides undergraduates with hands-on experience in the venture capital industry. The firm invests in early-stage companies and offers mentorship and networking opportunities to its members.
Ringley Group, a UK-based property management company, has made two senior hires to strengthen its capital markets and asset management offering to the living sectors. The company aims to leverage its expertise in property management to provide investment opportunities to its clients.
In conclusion, Hopkins University has set new ambitious investment goals after exceeding its initial HopkinsLocal goals. The university aims to invest $500 million in local businesses and organizations, hire 300 new employees from Baltimore's neighborhoods, and purchase $75 million in goods and services from local businesses annually. The university's investment portfolio will be overseen by Chris Lenox and Katherine Harman. Despite a drop in its endowment value, Hopkins remains one of the wealthiest universities in the country. Investors are warned to be vigilant of investment scams, and readers are encouraged to seek advice from financial professionals before investing their money.