The $1.6 billion endowment for the University of Kentucky made commitments to alternatives just before the coronavirus pandemic lockdown began in March.
According to meeting minutes recently released, the endowment made allocations to the Borealis Strategic Offshore Capital Fund and to Beach Point Capital Opportunities Fund totaling $20 million each.
The Borealis fund specializes in allocating to emerging manager hedge fund strategies and is the brainchild of Scott Schweighauser, an alum of fund of hedge fund firm Aurora Investment Management. The Chicago-based team launched the fund in January, according to U.S. SEC . . .
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