Wednesday, 26 October 2016
Last updated 10 hours ago
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%.