MIT endowment grows by $1.6b

The Massachusetts Institute of Technology's endowments grew by $1.6 billion in the fiscal year that ended June 30, thanks in large part to a 22.1 percent investment return.

According to a news release, the endowment's assets totaled $9.98 billion.

The Massachusetts Institute of Technology Investment Management Co., the investing arm for MIT's endowments, reported strong returns from real estate, private equity, and domestic and international equities.
(By Se Young Lee, Globe correspondent)