February 18, 2014 at 8:12 am

Value of MSU endowment tops $2B for first time

East Lansing — Michigan State University says the value of its endowment topped $2 billion for the first time in the 2013 fiscal year.

The Lansing State Journal reports the figure includes more than $300 million held by the MSU Foundation, which supports research and technology commercialization through organizations such as Spartan Innovations and MBI International.

The balance of the endowment is held in numerous funds designated for scholarships, faculty recruitment and support, research and other functions.

The East Lansing school says strong investment returns helped boost endowment’s value.

The endowment passed the $1 billion mark in 2004, early in the public phase of a capital campaign that would raise more than $1.2 billion. Its value plummeted during the 2008 financial collapse, losing more than $300 million, but rebounded.