US universities have been unable to advance their hedge fund portfolios
By Susan Barreto
US universities learned the lesson of liquidity in 2008 in the hardest way possible - within both their private equity and hedge fund portfolios.
The five largest US university endowments - Harvard University, Yale University, University of Texas Investment Management Company, Stanford University and Princeton University - account for nearly $90 billion in combined assets after losing at least $33 billion since the middle of 2008.
Endowments, the seed capital for the hedge fund industry's best and brightest, will likely be unable to invest with new