面对特朗普威胁，哈佛、普林斯顿等开始“搞钱”

Core Insights - Elite universities in the U.S. are urgently raising cash in response to unprecedented pressure from the Trump administration, with Princeton issuing $320 million in bonds, Northwestern securing $500 million, and Harvard raising $750 million [1][3] - The Trump administration has threatened over $10 billion in funding for higher education institutions, claiming these actions are aimed at protecting Jewish students and targeting diversity, equity, and inclusion (DEI) programs [2] - The current turmoil in the private equity market, combined with the financial pressures on universities, raises concerns about a potential new "subprime crisis" that could have widespread implications [7][8] Funding and Financial Strategies - Universities are issuing taxable bonds despite higher interest rates, as they face a challenging market environment [3][6] - Harvard's endowment, exceeding $50 billion, is largely locked in long-term investments, limiting liquidity and forcing universities to seek external financing [6] - Some universities are exploring the sale of private equity assets in the secondary market to alleviate financial pressures, a move that is rare in the history of educational endowments [8] Market Conditions and Risks - The private equity sector is experiencing a perfect storm of asset lock-up, trading stagnation, and liquidity crises, leading to concerns about the undervaluation of risks [7] - Analysts warn that the potential volatility of private equity assets has been masked for years, and without central bank support, the situation could worsen [7] - The financial strain on elite universities is unprecedented, as they navigate a landscape of reduced federal support and increased operational uncertainty [2][8]