Institutional Investors

Georgia Tech Foundation drops two long/short funds


The Georgia Tech Foundation is understood to have terminated two long/short equity hedge fund managers from its portfolio last year.

As markets took a dramatic plunge at the beginning of last September, trustees for the $1 billion foundation decided to terminate two hedge fund managers, while hiring two international managers, a real estate partnership and an energy partnership, according to meeting's minutes. The main change in the portfolio was to reduce US equity and international equity allocations to 16% from 22% of assets.

As of the end of September the asset allocation included a 14% allocation to long/short