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May 09, 2005 at 08:00 PM
CHAPEL HILL, N.C. (HedgeWorld.com)–Mark Yusko, whose name is becoming synonymous with joint ventures, now has another.
Mr. Yusko, formerly chief investment officer of the University of North Carolina at Chapel Hill and now an investment adviser, plans to launch a series of funds of funds offerings through a joint venture with legendary hedge fund manager Julian Robertson called Tiger Select Fund Management.
“I have known Mark Yusko for many years and watched his progression running the University of North Carolina Endowment,” said Mr. Robertson, whose Tiger Management once had US$22 billion in assets, in a statement. “He has a great track record which mirrors his ability to pick good investment managers. I am looking forward to working with him.”
Mr. Robertson will not actively manage any of the assets, but the Robertson Foundation will be a seed investor for the first fund of funds, which will invest solely in long/short strategies. The foundation will also become a minority interest owner in Morgan Creek Capital Management, Mr. Yusko’s advisory firm. Morgan Creek has US$1 billion in assets under advisement.
