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Larry Owen is a Senior Advisor for Asia Alternatives,
focusing on special situations investments. Mr. Owen retired from the
Stanford Management Company ("SMC") in 2006 and currently
serves on several investment and advisory committees for real estate,
special situations, natural resource and private equity funds.
While
at Stanford, Mr. Owen's primary responsibility was managing the real
estate and natural resources investment programs for Stanford. At the
time of his retirement, the Stanford University endowment had a market
value of $15.0 billion, of which more than 11.5% ($1.7 billion) was
invested in real estate, including Stanford Shopping Center leasehold,
several leaseholds in the Stanford Research Park, a portfolio of publicly
traded real estate stocks and various commingled and separate
investments. The natural resources portfolio, composed of oil, gas and
timber partnerships, had a net market value of $1.0 billion, 6.7% of the
endowment. In addition, there is approximately $1.5 billion in
commitments across both asset classes.
Upon
graduating from the Graduate Business School in 1971, Mr. Owen joined the
school's Business and Finance Division as a financial analyst. In 1982,
Mr. Owen moved to the investment side, where his primary responsibility
was managing the real estate and natural resources investment programs
for the STM.
Over
his career at Stanford, Mr. Owen managed 287 different investments for
the Merged Endowment Pool. The total invested equity was $4.8 billion and
resulted in a total net return to Stanford of $3.1 billion, or a 1.65x
multiple of cost. The net internal rate of return over this period was
15.1% and the cumulative net return from 1985 to 2006 was 1,705%.
Mr.
Owen earned his AB degree from Princeton University (cum laude in
religion) and MBA from Stanford University.
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