Elizabethtown College picks Tiger seed to bet on higher interest rates
By Suzy Kenly Waite
Mon Feb 8, 2010
The Pennsylvania endowment bets on Emerging Sovereign Group's treasury opportunities strategy, which was up 109% last year.
Elizabethtown College is betting on the skill of a Julian Robertson-seeded hedge fund, $1.2 billion Emerging Sovereign Group, to profit from the ill fortune of the developed world. The college’s endowment, managed by alumnus and trustee James Hoover, has invested an undisclosed sum with ESG, which was founded nine years ago by former Morgan Stanley emerging markets traders Kevin Kenny, Mete Tuncel and Yoon Chang. The firm was seeded by legendary Tiger Management founder Robertson, who remains an investor.
Elizabethtown’s investment is in the firm’s $400 million treasury opportunities...
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