The $945 million pooled endowment for the University of Kentucky has issued an RFP for an absolute return fund of funds.
The investment committee of the board of trustees is considering hiring an absolute return fund of funds manager to handle approximately 5% or $47 million of the overall portfolio. Responses to the search are due 26 August, while a firm is expected to be chosen by the end of November. The committee’s investment consultant is R.V. Kuhns & Associates.
The endowment assets are expected to increase substantially over the next few years through private gifts, according to