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

Nov 14 2006 | 11:37am 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

Q&A: Fund Administration Comes To The Cloud

Jul 14 2017 | 7:23pm ET

The fund administration sector has been steadily implementing new technology, such...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Rastegar: PE Real Estate Gains Momentum as Uncertainty Rises

Jul 21 2017 | 6:04pm ET

The steady march of equity markets and fundamental shift in the direction of Fed...

 

From the current issue of