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Alternative Market Briefing Weekly

Opalesque Roundup: 83% of endowments and 66% of foundations now invest in hedge funds: hedge fund news, week 14

Saturday, April 07, 2018

In the week ending 06 April, 2018, institutional investors are now the largest allocators in hedge funds with more than $2tln invested in the space. 83% of U.S. endowments and 66% of foundations invest in now in hedge funds.

Even if only 24 sovereign wealth funds invest in hedge funds, collectively they account for 10% of invested capital. This is in contrast to endowments and foundations active in the asset class: numbering 602 and 956 investors respectively, these institutions both allocate an average of 19% of their assets to hedge funds.

However, despite the large number of both groups investing nearly a fifth of their total assets in hedge funds, the relatively small size of foundations and endowments means that the sum of their total investments are only on par with sovereign wealth funds, each accounting for 10% of institutional capital.

Meanwhile, the New Jersey Division of Investment will hold off making commitments to hedge funds and private equity for the New Jersey Pension Fund; the Texas Teacher Retirement System, Austin, is expanding its emerging managers program with a total infusion of $3bn; and long-term investors are increasingly looking at private Reits for diversification purposes and stable yields.

Travis Kling is setting out to launch a $50 million crypto hedge fund; OP Investment Management, in partnership with Longrising Asset, launched the Longrising Prosperous China Fund; Little Harbor Advisors has launched its first ETF that calculates probability of change in price direction of U.S. equities; and AQR Capital launch its Core Plus Bond Fund, a systematic fixed income fund.

In performance, David Einhorn's Greenlight Capital lost money across the board in the first three months of the year, marking one of the worst quarters for the legendary manager; and several hedge f......................

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