Boston Globe announced in 2003.
According to research by The Commonfund, "endowments, representing
a combined total of $184 billion in assets, have raised their
allocations to hedge funds to 42% of their alternative investment
portfolios from just 28% in 2001."
That's about 18% of total endowment funds, according to another
loss of transparency? "Hedge funds have a reputation
for operating under a cloak of secrecy," the Los Angeles
Times reported last year, "thus making it impossible to discover
problems before a fund explodes."
universities are investing more endowment assets in hedge funds,
will it become more difficult to hold universities accountable
to high ethical investment standards? What are hedge funds doing
with university endowment money? What roles do they play in the
website begins to address some of these important questions. We
focus on one of the world's largest hedge funds, Farallon Capital
Management, LLC, which invests billions for tax-exempt investors
like universities and pension funds (see a list of universities and
colleges investing with Farallon).
first section of this website compiles information about Farallon�s
structure, finances and operations � the kind of information that
mutual funds and publicly traded companies are asked by the SEC
remainder of the website explores several of Farallon�s domestic
and overseas investments in some detail. We hope that as you read
about these investments, you will find them worthy of discussion
� and by extension, worthy of disclosure.
 Beth Healy, "Colleges turn to hedge funds."
Boston Globe, 4/16/03.
 Anuj Gangahar. "Hedge funds attract new investments."
 Joel Chernoff, �It�s not like private equity.� Pensions and
Investments Magazine, March 3, 2003.
 Walter Hamilton, "SEC puts hedge funds into focus,"
LA Times, Sept. 5, 2003