University at Buffalo Foundation

Generated outreach message alignment report
1. You maintain a dedicated hedge fund allocation (~14–15%) across multi-strategy, long/short equity and credit, and global macro.
A concentrated, high-conviction hedge fund with a low-correlation profile and global flexibility fits well within your established hedge fund sleeve.
Evidence
“Hedge funds 206,786,228 14% 209,208,050 15 %” “Hedge funds: Multi-strategy 84,922,289 ... Long/short credit 22,938,622 ... Long/short equity 60,518,767 ... Global macro 2,200 ... 206,786,228”
2. Your policy emphasizes diversification as a core tool to achieve long-term objectives within prudent risk parameters.
A low-correlation, idiosyncratic return stream from a concentrated best-ideas strategy helps you meet diversification requirements while pursuing return targets.
Evidence
“requires diversification of investments;” “The Foundation targets a diversified asset allocation to achieve its long-term return objectives within prudent risk parameters.”
3. You allocate meaningfully to international equity and include a dedicated emerging markets sleeve.
A global, high-conviction manager with emerging markets capability can complement your existing non-U.S. exposures and add alpha beyond broad benchmarks.
Evidence
“International equity 132,123,375 9% 117,280,784 9 %” “International emerging 3,138,397 — 3,138,397 Daily One”
4. Your return objective targets CPI +5.0% to 5.5% net, using a total-return approach (capital appreciation and income).
A long-track-record, high-conviction strategy seeking equity-like returns with better downside control can help deliver inflation-plus outcomes net of fees.
Evidence
“The current objective is to earn an average annual total return, net of investment fees, equal to inflation plus 5.0% to 5.5%.” “relies on a total investment return strategy in which investment return is achieved through both capital appreciation ... and current yield (interest and dividends).”
5. You invest via external vehicles (commingled funds, LPs/LLCs) and accept NAV-based reporting from managers.
An entrepreneurial, owner-managed fund available in institutional commingled/LP format with robust NAV reporting aligns with your implementation preferences.
Evidence
“commingled institutional funds” “measures certain investments, including certain alternative and private equity investments using NAV per share (or its equivalent) ... as a practical expedient”
6. You are comfortable with limited liquidity (lockups up to 3 years, side pockets/gates) and maintain a sizable illiquid bucket.
A concentrated best-ideas hedge fund with periodic liquidity can fit your tolerance for lockups while contributing differentiated returns.
Evidence
“Investments in hedge funds have numerous provisions... Certain of the hedge funds are subject to initial “lock-up” provisions, ranging up to three years.” “Illiquid 489,556,505 ... $ 1,486,680,688”
7. You back flexible, unconstrained hedged strategies that can invest long/short and use derivatives and currency hedges.
A global mandate that can go long/short across regions (including EM) and tactically use derivatives aligns with your openness to flexible hedged strategies.
Evidence
“Hedged strategies involve funds whose managers have the authority to invest in various asset classes at their discretion, including the ability to invest long and short.” “Funds with hedged strategies ... may include stocks, bonds, put or call options, swaps, currency hedges and other instruments”