Spelman College

Generated outreach message alignment report
1. You actively allocate to hedge funds/marketable alternatives and allow managers flexibility (including derivatives) with a preference for low net exposure and limited leverage.
Our concentrated, high-conviction hedge fund runs a low-correlation, risk-controlled profile and uses derivatives primarily for hedging/efficient exposure—exactly the type of mandate you permit and allocate to in your marketable alternatives sleeve.
Evidence
“(c) This category includes investments U.S. corporate and government bonds as well as hedge funds that take long and short positions largely in equity securities, credit securities, and event -driven situations. Managers vary in style, market cap focus, geographic focus, sectors of focus, and types of securities, with some having considerable flexibility in each of these areas.” “Investment managers are authorized to employ derivative instruments, including swaps, futures, forwards, and options.” “The funds also vary in net long/short positioning with most equity funds generally maintaining a low net and little or no leverage.”
2. Your public equity exposure is roughly 50/50 U.S. vs. non-U.S., and you hold non-USD currency exposure.
We run a global, best-ideas portfolio and can allocate across regions and currencies, aligning with your balanced U.S./non-U.S. posture and international mandate.
Evidence
“The College holds investments denominated in currencies other than the U.S. dollar.” “Approximately 50% of these investments are in U.S. companies and 50% are in non -U.S. companies.”
3. You have explicit Emerging Markets exposure, including Africa-oriented investments.
Our team has deep EM capability—including frontier and Africa—so we can complement and enhance your existing EM allocation with high-conviction ideas.
Evidence
“Emerging markets 6,337,619 78,353,243 – –” “The portfolio has included minority ownership in the African AgriLand Fund via Emergent Asset Management.”
4. You deploy significant capital through NAV-based funds and private limited partnerships, with ongoing manager due diligence.
We are an entrepreneurial, owner-managed GP offering a transparent LP structure—aligned with your preference for NAV-based fund vehicles and rigorous manager oversight.
Evidence
“As of June 30, 2025, and 2024, the College has approximately $442,500,000 and $410,575,000, respectively, of investments that are reported at estimated fair value based on NAV of the funds.” “Investments in private limited partnership interests are valued using the most current information provided by the general partner.” “ongoing due diligence of fund managers”
5. You target long-term real returns (5–6%) and a 4.70% spending policy, seeking benchmark outperformance with moderate risk via a total return approach.
Our long track record emphasizes benchmark-beating, risk-aware compounding and low-correlation returns that can help support spending while preserving purchasing power.
Evidence
“The College expects its endowment funds, over three to five years, to provide an average annual real rate of return of approximately 5% to 6% annually.” “The College has a policy of appropriating for distribution each year 4.70% of a weighted average of its endowment funds values...” “Under this policy, as approved by the Board of Trustees, the endowment assets are invested in a manner that is intended to produce results that exceed the price and yield results of a benchmark while assuming a moderate level of investment risk.”
6. You are comfortable with limited liquidity—accepting notice periods and some lock-ups, and allocating to illiquid vehicles with multi-year horizons.
Our concentrated, best-ideas strategy offers periodic liquidity (e.g., quarterly) aligned with your tolerance for lock-ups and longer notice, enabling a patient approach to alpha generation.
Evidence
“Non-U.S. equity (b) 22,575,954 31,210,413 4,943,949 – 20,658,238 – 79,388,556 60–120” “On June 30, 2025, and 2024, the College had $2,268,360 and $2,164,000 in investments with redemption lock up provisions respectively.” “(d) This category includes investments in real estate equity funds and commodity funds... These are investments that cannot be redeemed since the investment is distributed as the underlying investments are liquidated, which generally takes 4–10 years.”