Hedge Funds

Mark Yusko charts a new course

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Mark Yusko has informed the board of directors of the University of North Carolina's endowment management that he will be exiting to start his own hedge fund shop. A report published in the University of North Carolina's Daily Tar Heel newspaper suggested that Yusko's exit was prompted by a difference of opinion between Yusko and the university in terms of the role of UNC-Chapel Hill Management Company. Yusko wanted the private investment firm to add the assets of other institutions and universities to be invested alongside that of the University of North Carolina, a move board members opposed.