Foundation & Endowment Money Management - St. Olaf Tweaks Portfolio

St. Olaf Tweaks Portfolio

St. Olaf College's $275 million endowment has added several hedge fund and credit investments to its portfolio. "We funded the new mandates by reducing our exposure to equities," said Mark Gelle, assistant v.p. and cio. "Equities had out-performed since early March, so we were over target. In addition, we returned to our longer-term equity target after tactically increasing our exposure to equities in the fourth quarter of 2008," he added.

The Northfield, Minn.-based school invested a total of $9 million in three hedge funds: Shumway Capital Partners Ocean Fund, Anchorage Capital Partners Long/Short Credit, and Southport Energy Partners Long/Short Equity. It also allocated $5 million to the JPMorgan Core Bond Fund. It also increased its allocation to distressed debt, committing $5 million to Oaktree Capital Management's OCM Opportunities Fund VIII (foundationendowment.com, 10/6). In addition, the fund allocated $5 million to a private equity fund managed by Park Street Capital.

Asset Allocation

The Lions target 18% in international equity and 20% to hedge funds; 17% in domestic equity; 19% in ...

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St. Olaf Tweaks Portfolio

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