Stanford Pulls Billions in Assets Off Auction Block

Stanford University has decided not to try to sell about $5 billion in endowment assets in an auction, determining that these assets are starting to show gains in value, The Wall Street Journal reported. The planned sale was seen as a sign of how challenging wealthy universities were finding the market at a time that they hold many illiquid assets. Bids on the planned sale were in the range of 80 to 85 cents on the appraised value, the Journal said.