University of the South, Sewanee, Tenn., is deciding where it will place $15 million it got back from the liquidation of the Tiger Jaguar global hedge fund. The money likely will be reinvested in more than one hedge fund, said David Simpson, vice president of business and community relations. The $256 million endowment does not expect to make a decision before October.
In addition, the endowment will redistribute some assets to fixed income from equity to meet its target allocations; exact figures were not available at press time. Currently, the endowments asset mix is 70% equity, 20% fixed income and 10% hedge funds.