U. Of Louisville Endowment Boosts Hedge Funds

Dec 9 2010 | 1:51am ET

A Kentucky university is so happy with its hedge fund investments that it is racing right past its target allocation for the asset class.

The University of Louisville Foundation is pouring another $25 million into hedge funds, including a new mandate awarded to Eton Park Capital Management. Eton Park received $11.5 million of the money, while the remaining $13.5 million will go “incrementally” to most of its existing hedge fund managers.

The $637.8 million endowment is funding the new allocations by redeeming some of its money from a trio of U.S. stock managers, HFMWeek reports.

The $25 million, approved earlier this year by the foundation’s finance committee, will bring Louisville’s hedge fund exposure to about 23%. Its target allocation level is 20%.


In Depth

U.S. Treasury Moves on Reinsurance Loophole

Apr 24 2015 | 5:11pm ET

The U.S. Treasury Department has released proposed rules aimed at limiting the ability...

Lifestyle

Puerto Rico Woos The Rich But So Far Gains Little

Apr 17 2015 | 2:45am ET

Hedge fund manager Rob Rill grins. He has just had word that U.S. financial regulators...

Guest Contributor

Opportunities Ahead: Asian Fixed Income and Currency Markets

Apr 24 2015 | 6:18am ET

For hedge funds focusing on Asia, the policy uncertainty, unclear interest rate...

 

Editor's Note