The hedge fund portfolio at the University of Californias $97 billion Office of the Chief Investment Officer of the Regents has gotten an extreme makeover, thanks to investment officer Craig Huie, 37, and managing director Edmond Fong (a 2013 Hedge Fund Rising Star). Intending to get more bang for their buck, the duo have been cutting bigger checks to fewer managers with a taste for funds that are less correlated to traditional asset classes like macro, relative-value and multistrategy firms to tailor strategies to the needs of the pension, endowment and working-capital accounts they oversee. Now down to about 15 managers from more than 30 last year, the absolute-return portfolio, which had $4.7 billion in assets at the end of March, will serve a more opportunistic role as Huie and Fong hunt for hedge funds that complement the universitys other investments. After trimming their equity long-short allocation, they also handed off the remaining managers to Scott Chan and the equities team to better align the institutions risks across portfolios.
Prior to joining the University of California in 2011, Huie was an associate at Khronos, a New Yorkbased family office, where he focused on private equity but gained an introduction to a variety of alternative asset classes, including hedge funds. Concurrently, he pursued an MBA at New Yorks Columbia Business School, receiving his degree in 2011. Before joining Khronos in 2004, he spent two years as an analyst at J.P. Morgan covering the industrials and transportation sectors.
Of Chinese and Lithuanian descent, the Randolph, New Jersey, native had landed an internship with J.P. Morgans investment banking division in 2000 through Sponsors for Educational Opportunity (SEO), a New Yorkbased nonprofit that helps underprivileged minority students with career development. But when he graduated from the University of Florida with a bachelors in finance and international economics in 2001, following the dot-com bubble, hiring had slowed. As a result, Huie spent half a year as an associate at Breakstone Group, a New Yorkbased investor relations boutique, before rejoining J.P. Morgan in 2002. Now in a position to give back, he volunteers with SEO by fund-raising and mentoring students.
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Hedge Fund Rising Stars of 2016Click below to view profiles
|Jessye BallMillennium MgmtSarah BernerAristeia CapitalJenna Bussman-WiseAIG InvestmentsMaureen ChangPoint72 Asset MgmtDennis ChenfuPershing|
|Charles Dufresne Jr.Sciens Capital MgmtWilliam FredaGraticule Asset Mgmt AsiaSamantha GreenbergMargate CapitalMark GurevichRopes & GrayTal GurionMariner Glen Oaks|
|Craig HuieUniversity of CaliforniaYusef KassimBlue Harbour GroupFlorian KronawitterWhite Square CapitalVikram KumarTT InternationalBrandon LevinJana Partners|
|Jonathan LevinGeorge Weiss AssociatesBrett MinarikAksiaIan MonroeEtho CapitalJason MorrowUtah Retirement SystemsPierre-Adrien NicolasSquarepoint Capital|
|Jamie PabstGreen Owl Capital MgmtParag PandeBlackstone GroupAgata PraczukMetLifeMax SaffianFortress Investment GroupMatt SatnickMSD Partners|
|Eric SingerViex Capital AdvisorsKatina StefanovaMarto CapitalReginald TuckerNew York State Common Retirement FundMichael WangCypress FundsSean WygovskyPolar Asset Mgmt Partners|