AG Eyeing Claims Dartmouth Invests Endowment With 'Cabal'

Law360, New York (May 29, 2012, 7:47 PM EDT) -- The New Hampshire attorney general's office is reviewing allegations that Dartmouth College invested its $3.4 billion endowment primarily with a "cabal" of private equity and hedge funds managed by college trustees, a Dartmouth spokesman acknowledged Tuesday.

The state office received a Feb. 4 letter written by an anonymous group of faculty, staff and employees claiming Dartmouth steered its investments to firms controlled by prominent trustees, according to spokesman Justin Anderson. The letter, made public last week, claimed the trustees received hefty management fees and often had...
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