Former Duke Money Manager Preps Fund Of Funds

Jul 2 2008 | 12:44pm ET

University endowments are proving fertile ground for training hedge fund managers.

The latest to try his hand in the hedge fund industry is Jared Perry, a former money manager at DUMAC, which runs Duke University’s endowment. Perry has founded Stonehorse Capital Management, which is expected to hit the ground running in August.

Stonehorse is a fund of hedge funds manager, focusing on emerging long/short equity and event-driven managers. Opening with between six and eight managers, the fund of funds could eventually boast a roster of as many as 15, most with less than $500 million in assets and less than a three-year track record, according to

Stonehorse will charge a 1% management fee and 5% performance fee. There is a $1 million minimum investment requirement.

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