By Susan Barreto
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...