|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 Groups 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 Californias $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 Chicagos 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.