Richest Universities Pour Billions Into Hedge Funds

Nov 20 2006 | 12:36pm ET

Hedge fund investments have been very kind to university endowments and, over the past five years, those endowments have returned the favor.
 
The 53 biggest endowments in the U.S.—those with at least $1 billion in assets—have plunked $40 billion into hedge funds during that period.

All told, those allocations represent about one-fifth of the total assets in those endowments, which combined total some $217 billion. By a three-to-one margin, the endowments prefer the single-manager route to funds of hedge funds, according to the InvestHedge Billion Dollar Endowment Club report.


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