Duke’s Endowment Chief Follows Ex-Harvard, Stanford Money Men Into Private Practice

Nov 14 2006 | 10:37am ET

The head of Duke University’s endowment is looking for his own piece of the ballooning hedge fund pie.

After watching his peers at Harvard University and Stanford University strike out on their own with two of the largest hedge fund launches in history, Duke University Management Co. CEO Thurston Morton will retire at the end of the year to start his own firm. Morton has run the $7.5 billion endowment—the third-best performer among large university endowments last year, up 20.2%—for six years.

He’ll be replaced by the man who’s overseen Duke’s hedge fund portfolio, Neal Triplett, a Duke alum who joined the endowment six years ago from Wachovia Bank.

Unlike Harvard’s Jack Meyer, who took 32 of his employees with him to Convexity Capital Management, or Stanford’s Michael McCaffrey, who took two to Makena Capital Management, a Duke spokesman told Bloomberg News that he did not expect Morton to poach any of Duke’s 27 endowment staffers.

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Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…