US$500 million mandate
Big Queensland-based institutional investor QIC has awarded a US$500 million mandate to a US-based endowment and foundation fund.
QIC has announced that the big private endowment mandate has been awarded to Makena Capital as part of what QIC’s strategy general manager Brad Holzberger acknowledges is a move aimed at providing the company with insight into the endowment and foundation investment model, which is more about investing in a process than an asset class.
He said that endowment and foundation funds had traditionally been used by universities and charities in the US to fund their ongoing activities.
“This investment will generate another protection mechanism for our clients during times of volatile market movements,” Holzberger said.
AUTHOR
Mike Taylor
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