University of Rochester

Generated outreach message alignment report
1. You rely on a large, global roster of external managers and invest via long-term commingled pools.
As an entrepreneurial, owner-managed hedge fund, we fit your model of allocating to external managers and can offer a commingled vehicle designed for long-term partnerships.
Evidence
“It is highly diversified and managed by approximately 100 external investment advisors located around the globe.” “Rochester’s endowment is managed by external investment advisors overseen by the Investment Office and the Board of Trustees Investment Committee.” “The University invests along with peer institutions with asset managers in long-term investment pools.”
2. You have explicit hedge fund buckets for both uncorrelated and long/short strategies (totaling 22%) within a heavy alternatives mix.
Our concentrated, low-correlation hedge fund strategy can align with your uncorrelated and long/short allocations and your broader tilt to alternatives.
Evidence
“Uncorrelated Hedge Funds* 14” “Long/Short Hedge Funds* 8” “Total Alternative Investments 57%”
3. You benchmark equities to MSCI ACWI and explicitly consider GDP-weighted global exposure—plus you’ve engaged on China and global trade.
Our global mandate and emerging markets capability are directly aligned with your ACWI-oriented framework and interest in EM insights.
Evidence
“The current equity component of the benchmark is the MSCI ACWI.” “For portfolio construction, the equity component may be weighted by GDP to reflect global economic activity.” “China – April 2018”
4. You emphasize long-term, equity-oriented returns and avoid short-term market timing—aiming to outperform peers and passive benchmarks.
We run a high-conviction, long-duration portfolio with a long track record designed to exceed passive and peer results without market timing.
Evidence
“The endowment’s objective is to seek long-term returns that fulfill this purpose, which can only be achieved through an equity-oriented approach.” “The Office adjusts the portfolio for rebalancing or in gradual response to unusual conditions ... but will not engage in short-term speculation on the direction of markets.” “The University also employs an endowment performance objective of seeking long-term returns above the mean of similar private universities (“Close Peer Group”).”
5. You value diversification, lower volatility, and capital preservation across cycles—explicitly allocating to uncorrelated strategies.
Our low-correlation return profile and risk-managed approach are built to complement equity beta and help reduce overall portfolio volatility.
Evidence
“The LTIP will employ a multi-asset class approach that offers diversification and helps to reduce risk.” “This approach has ensured growth, with volatility below public markets, during economic expansions and capital preservation in economic downturns.” “Uncorrelated Hedge Funds* 14”
6. You require managers to uphold CSR standards and adhere to explicit exclusionary policies (fossil fuels, private prisons, certain military-linked securities) with aligned proxy voting.
We can implement your exclusions and proxy guidelines while maintaining a high-conviction process, and we’re prepared for your CSR due diligence.
Evidence
“These managers are accountable to uphold norms of corporate social responsibility.” “No new direct investments or investments in investment vehicles through its Long-Term Investment Pool that are primarily devoted to the development, exploration, extraction, processing, storage, transportation or distribution of fossil fuels...” “No direct investments in any publicly-traded company that owns or operates private prisons, including CoreCivic and its subsidiaries, GEO Group, and G4S.” “The University of Rochester will (i) avoid direct investments in securities issued by companies selling goods or services that support military operations that violate U.S. and international law, and (ii) instruct the Investment Office to ask the University’s investment managers to vote proxies...”
7. You balance ample near-term liquidity with a willingness to use multi‑year lockups.
Our fund offers institutional liquidity terms while accommodating longer lockups where appropriate—consistent with how you structure pools and manage LTIP liquidity.
Evidence
“The LTIP has ample liquidity, with approximately 59% of its value convertible into cash within one year.” “The secondary pool requires a four-year lock-up for all new accounts and a four-year withdrawal period thereafter.”
8. You are actively exploring and supporting diverse managers.
As a boutique, owner-managed firm with a diverse team, we align with your interest in broadening the manager universe.
Evidence
“Exploring and Supporting the Diverse Manager Landscape – NMS Exchange December 2020” “The University’s annual questionnaire for investment managers covers corporate social responsibility and the firm’s commitments to access, opportunity, and fairness.”