Univ. Of Houston Adds Covalent To Hedge Portfolio

Oct 28 2011 | 11:10am ET

The University of Houston's endowment has hired hedge fund Covalent Capital Partners to manage $6 million.

Consultant Cambridge Associates recommend the Texas-based firm, "an opportunistic, contrarian event-driven fund that focuses on companies and industry sectors undergoing turmoil," endowment documents show.

The hiring of Covalent comes as Houston has also partially redeemed its investment with York Capital Management, pulling $1.5 million from the hedge fund, HFMWeek reports.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...