The $945 million pooled endowment for the University of Kentucky is building up its fund of hedge funds portfolio with a new search 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 were due by 26 August, while a firm is expected to be chosen by the end of November. The committee’s investment consultant is RV Kuhns & Associates.
The endowment assets