Saturday, 26 July 2014
Last updated 20 hours ago
Feb 13 2013 | 11:03am ET
The University of Texas' endowment, one of the richest in the world, may invest an additional $345 million in hedge funds over the next six months.
Specifics were lacking in the documents presented to the University of Texas Investment Management Co.'s board last week, Pensions & Investments reports. But they show that the endowment is likely to invest $60 million in a European equity long/short hedge fund, as well as make additional investments of $75 million and $25 million to two existing investments, an unnamed equity long/short fund and a discretionary global macro fund. An emerging markets manager will also get a bump up, by an undisclosed amount.
In addition, UTIMCO is mulling another $60 million bet on an equity long/short hedge fund, specifically one with less than $500 million in assets, and a $100 million mandate for another emerging markets manager.
The news is not all good for the endowment's stable of alternative investment funds: UTIMCO staff said that it was redeeming entirely from one equity long/short hedge fund, pulling between $30 million and $60 million from a distressed credit manager and making staggered redemptions from an emerging markets manager.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…