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.


In Depth

Dillon Eustace: The Advantages of ICAVs

Feb 11 2016 | 7:51pm ET

As the growth of alternative investment vehicles continues, global asset managers...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedging Against Reputational Risk in the 21st Century

Feb 12 2016 | 7:18pm ET

For investors, the first step in researching a new fund or manager is to google...