Sunday, 24 May 2015
Last updated 1 day 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…