Wednesday, 24 August 2016
Last updated 10 hours ago
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.