Brown's endowment grows to about $6.9B

Historic University Hall, built in 1770, is the first building built at Brown University. Photo by Steve Klamkin WPRO News

PROVIDENCE, R.I. (AP) — Brown University’s endowment generated a more than 50% return during the most recently completed fiscal year to increase to $6.9 billion.

The Ivy league school announced Thursday that strong financial markets that boosted results for many universities drove Brown’s returns.

The appreciation of 51.5% generated investment returns of $2.4 billion during the fiscal year that ended June 30.

The endowment provided $194 million for student scholarships, scientific research and other strategic priorities during the fiscal year, or about 15% of the total operating budget.