UVIMCO goes beyond the endowment model

Tue May 3, 2011

One medium-sized portfolio embraces a hedge fund legacy

By Susan Barreto

Larry Kochard
At the University of Virginia, investing in hedge funds has never been about allocating to unique asset classes by simply ticking a box, and much of that process and knowledge comes from the school’s unique place in hedge fund history.

The investment entity in particular that handles the university’s nearly $5 billion endowment, the University of Virginia Investment Management Company, has a history of focusing on hedge funds including Tudor Investment Corporation, which is run by legendary 1976 University of Virginia graduate Paul Tudor Jones.

UVIMCO also has the distinction of having one of the largest allocations to hedge funds in percentage terms of any other US university endowment. Spread between long/short equity, fixed income funds and private funds, the endowment has roughly 34% in hedge funds, which is down significantly from 2006 through 2008, when the endowment had more than 45% in...

ISSN: 2151-1845 / CDC10004H

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