Institutional Investors

University of Vermont grows direct investment programme


The University of Vermont and State Agricultural College continues to add to its direct hedge fund portfolio although it spilled over its target allocation in 2009 and 2010.

The roughly $280 million endowment portfolio is understood to have allocated $5 million each to Canyon Capital Advisors and Owl Creek Capital after interviewing both groups in addition to Mason Capital Management in December. Canyon, which specialises in credit markets, won the mandate for its Canyon Capital Advisors Balanced Fund. Owl Creek adheres to an opportunistic and contrarian event-driven value strategy.

The additional hedge fund