Mark Yusko | |
|---|---|
| Alma mater |
University of Notre Dame University of Chicago |
| Occupation(s) | Investor, hedge fund manager, and philanthropist |
| Years active | 1993-present |
Mark W. Yusko is an American investor and hedge fund manager. He is the founder, chief investment officer and managing director of Morgan Creek Capital Management, an investment management firm that advises pension funds, endowments and wealthy individuals.
Investment career
From 1993 to 1998, he was a Senior Investment Director at the University of Notre Dame Investment Office. Yusko left Notre Dame in 1998 to head the endowment office at the University of North Carolina at Chapel Hill. From 1998 to 2004, Yusko was founder and chief executive of the UNC Management Company. Yusko left UNC to found Morgan Creek Capital Management in 2004. [1]
In 2004, Morgan Creek Capital Management, LLC partnered with Salient Partners LP to start The Endowment Fund. After reaching about $3.5 billion in assets, Yusko served as chief investment officer for the Fund until January 2013, when Yusko was removed for poor fund performance. [2] Large redemptions by investors prompted The Endowment Fund in October 2012 to announce that investor withdrawals would be limited. [3] In 2014, The Endowment Fund announced that investors could withdraw from the fund, but at significant discounts. [4] [5]
Yusko is a frequent commentator on the alternative investment industry and has appeared on CNBC, Bloomberg TV, Fox Business, and other major networks as well as in newspapers including the New York Times and Wall Street Journal. [6] [7] [8] [9] [10] He is a proponent of the Endowment Model of investing, which favors diversified strategies by asset class and within each asset class in both public and private markets. [11]
Wealth and philanthropy
The Morgan Creek Foundation: The Morgan Creek Foundation was established in 2005 and receives a portion of the profits of Morgan Creek Capital Management each year. The Foundation awards grants to education-focused, community-based, non-profit organizations. [12] In 2011, the Foundation received the Chapel Hill-Carrboro Chamber of Commerce's "Non-Profit of the Year" award. [13]
The Hesburgh-Yusko Scholars Program: In 2009, Yusko and his wife, Stacey, founded The Hesburgh-Yusko Scholars Program, a four-year, merit-based scholarship and leadership development program, with a $35 million gift to the University of Notre Dame. The Yuskos’ benefaction was the third-largest gift in the University’s history and was substantial enough to land them on the Slate 60 list of the largest American charitable contributions of 2009. [14] [15] The Program gave 25 scholarship awards in Spring 2010 and 26 awards in Spring 2011. [16] [17]
Yusko has also served on the boards of several North Carolina-based non-profits, including Carolina Meadows, a non-profit retirement community in Chapel Hill; MCNC, a technology and economic-development organization in the Research Triangle Park; and the Weaver Foundation, in Greensboro. [18]
See also
- List of University of North Carolina at Chapel Hill people
- List of University of Notre Dame people
- List of University of Chicago people
References
- ^ "Morgan Creek Capital Management Investment Team". Archived from the original on 2012-01-26. Retrieved 2011-06-21.
- ^ "Yusko Out as Investment Chief at Endowment Fund" Archived 2017-12-29 at the Wayback Machine by Juliet Chung, Wall Street Journal, January 22, 2013
- ^ Creswell, Julie (2012-10-30). "Endowment Fund, Run by Mark Yusko, Limits Withdrawals". The New York Times. ISSN 0362-4331. Archived from the original on 2017-09-16. Retrieved 2017-09-15.
- ^ "RPT-Endowment Fund offers clients ways to exit after sluggish return". Reuters. 2014-02-24. Archived from the original on 2017-09-16. Retrieved 2017-09-15.
- ^ "Merrill Lynch Hedge Fund Investors Offered Opportunity To Exit The Endowment Fund With Substantial Losses - Silver Law Group". Silver Law Group. 2014-03-07. Archived from the original on 2017-09-16. Retrieved 2017-09-15.
- ^ "Most Fund of Funds Don't Add Value: Morgan Creek CEO." Archived 2014-04-19 at the Wayback Machine CNBC. Aired July 14, 2011
- ^ "Morgan Creek's Yusko Seeks 'Protege' Fund Managers." Archived 2013-01-15 at archive.today Bloomberg TV. Aired September 20, 2012
- ^ "Federal crypto regulation would 'force' jobs, development outside US: Market expert." Archived 2021-08-20 at the Wayback Machine Fox Business. Aired August 11, 2021
- ^ "Buyout Pros Contemplate An Industry ‘Under The Glare’ During Romney Campaign," Archived 2017-09-16 at the Wayback Machine by Michael Wursthorn, Wall Street Journal. January 25, 2012
- ^ "Top Hedge Fund Managers Earn Over $240 Million," by Jenny Anderson and Julie Creswell. Archived 2017-09-16 at the Wayback Machine New York Times. April 24, 2007.
- ^ "Four Ways to Increase Pension Returns." Archived 2017-02-25 at the Wayback Machine CNBC. Aired June 22, 2012
- ^ "Stealth funder focuses on education" in Philanthropy Journal. June 30, 2010. "Stealth funder focuses on education | Philanthropy Journal". Archived from the original on 2010-12-20. Retrieved 2011-01-20.
- ^ "Chamber Names Top Local Businesses" Archived 2011-09-27 at the Wayback Machine
- ^ "Alumni couple creates scholars program with $35 million gift to Notre Dame" from ND Newswire. August 27, 2009. [1] Archived 2010-08-09 at the Wayback Machine
- ^ ""Slate 60: Donor Bios." Feb 5, 2010". Slate. 5 February 2010. Archived from the original on January 31, 2011. Retrieved January 20, 2011.
- ^ "The Hesburgh-Yusko Scholars Program Class of 2014."
- ^ "The Hesburgh-Yusko Scholars Program Class of 2015."
- ^ "The Weaver Foundation Directors and Officers." Archived 2010-01-28 at the Wayback Machine
Further reading
- Burton, Katherine (2010). “Mark Yusko: What it Takes to Be the Best” in Hedge Hunters: Hedge Fund Masters on the Rewards, the Risk, and the Reckoning. ISBN 1-57660-245-1
- Kochard, Lawrence and Cathleen Ritterieser (2008). “Invest without Emotion, Act with Conviction” in Foundation and Endowment Investing. ISBN 0-470-12233-1
External links
- Mark Yusko on CNBC Video from CNBC - July 14, 2011
- Mark Yusko: The Endowment Model Isn't Broken Video from Opalesque - May 19, 2010
- Yusko on Endowment Investing Video from Fox Business News - December 22, 2009
- Analysis and Discussion with Mark Yusko of Morgan Creek Capital Management Video from Bloomberg News - April 17, 2009
- The Gospel According to Mark Yusko From Institutional Investor - August 2004
Mark Yusko | |
|---|---|
| Alma mater |
University of Notre Dame University of Chicago |
| Occupation(s) | Investor, hedge fund manager, and philanthropist |
| Years active | 1993-present |
Mark W. Yusko is an American investor and hedge fund manager. He is the founder, chief investment officer and managing director of Morgan Creek Capital Management, an investment management firm that advises pension funds, endowments and wealthy individuals.
Investment career
From 1993 to 1998, he was a Senior Investment Director at the University of Notre Dame Investment Office. Yusko left Notre Dame in 1998 to head the endowment office at the University of North Carolina at Chapel Hill. From 1998 to 2004, Yusko was founder and chief executive of the UNC Management Company. Yusko left UNC to found Morgan Creek Capital Management in 2004. [1]
In 2004, Morgan Creek Capital Management, LLC partnered with Salient Partners LP to start The Endowment Fund. After reaching about $3.5 billion in assets, Yusko served as chief investment officer for the Fund until January 2013, when Yusko was removed for poor fund performance. [2] Large redemptions by investors prompted The Endowment Fund in October 2012 to announce that investor withdrawals would be limited. [3] In 2014, The Endowment Fund announced that investors could withdraw from the fund, but at significant discounts. [4] [5]
Yusko is a frequent commentator on the alternative investment industry and has appeared on CNBC, Bloomberg TV, Fox Business, and other major networks as well as in newspapers including the New York Times and Wall Street Journal. [6] [7] [8] [9] [10] He is a proponent of the Endowment Model of investing, which favors diversified strategies by asset class and within each asset class in both public and private markets. [11]
Wealth and philanthropy
The Morgan Creek Foundation: The Morgan Creek Foundation was established in 2005 and receives a portion of the profits of Morgan Creek Capital Management each year. The Foundation awards grants to education-focused, community-based, non-profit organizations. [12] In 2011, the Foundation received the Chapel Hill-Carrboro Chamber of Commerce's "Non-Profit of the Year" award. [13]
The Hesburgh-Yusko Scholars Program: In 2009, Yusko and his wife, Stacey, founded The Hesburgh-Yusko Scholars Program, a four-year, merit-based scholarship and leadership development program, with a $35 million gift to the University of Notre Dame. The Yuskos’ benefaction was the third-largest gift in the University’s history and was substantial enough to land them on the Slate 60 list of the largest American charitable contributions of 2009. [14] [15] The Program gave 25 scholarship awards in Spring 2010 and 26 awards in Spring 2011. [16] [17]
Yusko has also served on the boards of several North Carolina-based non-profits, including Carolina Meadows, a non-profit retirement community in Chapel Hill; MCNC, a technology and economic-development organization in the Research Triangle Park; and the Weaver Foundation, in Greensboro. [18]
See also
- List of University of North Carolina at Chapel Hill people
- List of University of Notre Dame people
- List of University of Chicago people
References
- ^ "Morgan Creek Capital Management Investment Team". Archived from the original on 2012-01-26. Retrieved 2011-06-21.
- ^ "Yusko Out as Investment Chief at Endowment Fund" Archived 2017-12-29 at the Wayback Machine by Juliet Chung, Wall Street Journal, January 22, 2013
- ^ Creswell, Julie (2012-10-30). "Endowment Fund, Run by Mark Yusko, Limits Withdrawals". The New York Times. ISSN 0362-4331. Archived from the original on 2017-09-16. Retrieved 2017-09-15.
- ^ "RPT-Endowment Fund offers clients ways to exit after sluggish return". Reuters. 2014-02-24. Archived from the original on 2017-09-16. Retrieved 2017-09-15.
- ^ "Merrill Lynch Hedge Fund Investors Offered Opportunity To Exit The Endowment Fund With Substantial Losses - Silver Law Group". Silver Law Group. 2014-03-07. Archived from the original on 2017-09-16. Retrieved 2017-09-15.
- ^ "Most Fund of Funds Don't Add Value: Morgan Creek CEO." Archived 2014-04-19 at the Wayback Machine CNBC. Aired July 14, 2011
- ^ "Morgan Creek's Yusko Seeks 'Protege' Fund Managers." Archived 2013-01-15 at archive.today Bloomberg TV. Aired September 20, 2012
- ^ "Federal crypto regulation would 'force' jobs, development outside US: Market expert." Archived 2021-08-20 at the Wayback Machine Fox Business. Aired August 11, 2021
- ^ "Buyout Pros Contemplate An Industry ‘Under The Glare’ During Romney Campaign," Archived 2017-09-16 at the Wayback Machine by Michael Wursthorn, Wall Street Journal. January 25, 2012
- ^ "Top Hedge Fund Managers Earn Over $240 Million," by Jenny Anderson and Julie Creswell. Archived 2017-09-16 at the Wayback Machine New York Times. April 24, 2007.
- ^ "Four Ways to Increase Pension Returns." Archived 2017-02-25 at the Wayback Machine CNBC. Aired June 22, 2012
- ^ "Stealth funder focuses on education" in Philanthropy Journal. June 30, 2010. "Stealth funder focuses on education | Philanthropy Journal". Archived from the original on 2010-12-20. Retrieved 2011-01-20.
- ^ "Chamber Names Top Local Businesses" Archived 2011-09-27 at the Wayback Machine
- ^ "Alumni couple creates scholars program with $35 million gift to Notre Dame" from ND Newswire. August 27, 2009. [1] Archived 2010-08-09 at the Wayback Machine
- ^ ""Slate 60: Donor Bios." Feb 5, 2010". Slate. 5 February 2010. Archived from the original on January 31, 2011. Retrieved January 20, 2011.
- ^ "The Hesburgh-Yusko Scholars Program Class of 2014."
- ^ "The Hesburgh-Yusko Scholars Program Class of 2015."
- ^ "The Weaver Foundation Directors and Officers." Archived 2010-01-28 at the Wayback Machine
Further reading
- Burton, Katherine (2010). “Mark Yusko: What it Takes to Be the Best” in Hedge Hunters: Hedge Fund Masters on the Rewards, the Risk, and the Reckoning. ISBN 1-57660-245-1
- Kochard, Lawrence and Cathleen Ritterieser (2008). “Invest without Emotion, Act with Conviction” in Foundation and Endowment Investing. ISBN 0-470-12233-1
External links
- Mark Yusko on CNBC Video from CNBC - July 14, 2011
- Mark Yusko: The Endowment Model Isn't Broken Video from Opalesque - May 19, 2010
- Yusko on Endowment Investing Video from Fox Business News - December 22, 2009
- Analysis and Discussion with Mark Yusko of Morgan Creek Capital Management Video from Bloomberg News - April 17, 2009
- The Gospel According to Mark Yusko From Institutional Investor - August 2004