Institutional Investors

Minnesota’s Carleton College to fill equity mandate

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Carleton College
Carleton College in Northfield, Minnesota, is looking to grow its allocation to long/short equity to 5%, which is an increase from the 1% that trustees held in these hedge funds earlier this year.

The $650 million endowment has been a long-term investor in hedge funds and saw its long/short equity portfolio dip from 3% of the portfolio in 2010 to 1% this year. The hedge fund portfolio is understood to typically add one or two new funds a year.

A separate direct allocation to hedge funds totals roughly $150 million, which has exposure