Endowments and Foundations

UTIMCO brings on new director for stable value hedge fund portfolio

Anthony K. Caruso joined University of Texas/Texas A&M Investment Management Co., Austin, as director, hedge fund strategies.

The position is new, University of Texas spokeswoman Karen Adler said in an email. Mr. Caruso is responsible for managing the firm's new stable value hedge fund portfolio.

As part of a restructuring earlier this year, UTIMCO separated its $10 billion hedge fund portfolio into two discrete portfolios — stable value and directional.

As of March 31, the stable value portfolio totaled $2.4 billion or about 5% or UT's combined $43 billion in endowment and operating funds, materials from UTIMCO's May 18 board of directors meeting showed. Assets managed in directional hedge funds totaled $7.7 billion as of the same date.

Mr. Caruso was vice president and head of quantitative and macro strategies at hedge funds-of-funds manager Mesirow Advanced Strategies, which was acquired July 1 by Lighthouse Investment Partners, another hedge funds-of-funds manager. Sean P. McGould, Lighthouse founder, president and co-chief investment officer, said Mr. Caruso's duties have been assumed by others on Lighthouse Partners' investment team.