University of Florida Foundation

1. You allocate via UFICO’s limited partnership platform with manager-of-managers structure and accept monthly liquidity with GP discretion.

A concentrated, entrepreneurial hedge fund with institutional ops can slot into UFICO’s LP structure and offer monthly/quarterly liquidity and reporting consistent with GP discretion.

Evidence

“Consists of investments in two limited partnerships managed by UFICO.” “Redemptions are limited at the discretion of the general partner (UFICO) to the extent any limitations are imposed by any of the underlying third-party managed funds.” “Monthly 30 days”

2. You maintain a sizable hedge strategies allocation to add diversification and low-correlation returns.

A low-correlation, high-conviction hedge strategy can complement UFICO’s portfolio construction and contribute diversifying return streams.

Evidence

“Hedge strategies 527,655,691 482,344,462” “The Foundation, through UFICO, targets a diversified asset allocation to achieve long-term objectives within prudent risk constraints.”

3. You allocate to global equities and prefer underlying managers to manage/absorb FX risk.

A global, emerging-markets-capable manager that actively manages currency within the mandate fits your preference to keep assets in USD while outsourcing FX decisions to managers.

Evidence

“As of June 30, 2025 and 2024, the Foundation’s assets were held in U.S. currency; the currency risk on international and global assets is absorbed by the underlying investment managers.” “Global equities 1,131,750,705 756,825,254”

4. You target at least a 5% net real return and are willing to tolerate short- and intermediate-term volatility to achieve long-term goals.

A concentrated, high-conviction manager with a long track record and owner-operator alignment can pursue compounding that meets real-return targets despite interim volatility.

Evidence

“The Foundation’s investment objectives are to provide an annualized real rate of return, net of fees, of at least 5.00% in order to preserve, or increase, the purchasing power of endowment capital, while generating an income stream...” “This policy is designed to tolerate volatility in short- and intermediate-term performance.”

5. You emphasize benchmark-beating total returns and growth net of distributions.

A differentiated, low-correlation strategy with demonstrated alpha can help sustain real spending while protecting purchasing power.

Evidence

“University of Florida Foundation’s $2.7 billion endowment pool posted a net 12.1% return for the fiscal year ended June 30, outperforming its primary benchmark return of 7.4%.” “The Foundation’s spending policy is designed to provide positive growth in the market value of its endowment, net of distributions, over an extended period of time.”

6. You are comfortable using commingled vehicles (mutual funds and NAV-measured LPs) to access external managers.

A boutique hedge fund offered in a commingled LP with institutional terms can align with your implementation model and reporting via NAV.

Evidence

“Mutual funds: Equities 39,680,363 39,680,363 - - Fixed income 16,401,034 16,401,034 - -” “Investments measured at the net asset value (NAV): Private equity investments - UFICO limited partnerships(1) 2,679,297,429 Total investments $ 2,741,946,814”

7. You require institutional custody and risk frameworks managed through UFICO.

An institutional-ready, owner-managed fund that can accommodate agent custody and operate within UFICO’s risk guidelines will ease onboarding and oversight.

Evidence

“The investment management agreement with UFICO requires that all securities be held by the Foundation’s agent in the Foundation’s name.” “The Foundation has no formal policy on credit risk but UFICO’s Statement of Investment Policy addresses risk management of the investments.”