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Hedge Fund Rising Stars: Edmond Fong

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Edmond Fong
Office of the Treasurer of the Regents, University of California

With a résumé that includes stints at now-defunct U.S. hedge fund firm Amaranth Advisors, Carlyle Group’s short-lived hedge fund subsidiary Blue Wave and Lehman Brothers Holdings, Edmond Fong has seen his share of disasters. Now a director of absolute-return strategies at the University of California’s $80 billion Office of the Treasurer of the Regents, he says those experiences taught him to spot when a fund or a firm is in trouble. Fong, 38, grew up in Boston; he holds a BS in economics from Carnegie Mellon University and an MBA from the University of Chicago’s Booth School of Business. He joined the Oakland-based Office of the Treasurer in 2010 and has been instrumental in building its hedge fund portfolio. Recently, Fong and the alternatives team have been focused on tactical allocations — decreasing global macro and convertible arbitrage investments in favor of multistrategy and emerging-markets exposure — and reducing the number of managers. The portfolio gained 4.17 percent in the first quarter, beating its benchmark by 154 basis points.