Endowments and foundations lead the pack among US institutional investors in hedge funds. A study by CommonFund found 42% of educational endowments had allocations to alternatives, with 48% of that total in what it calls "marketable alternatives", including hedge funds. Foundations had an average of 28% in alternatives with 44% of the total in hedge funds.
CommonFund is a Connecticut-based institution that manages money for endowments and foundations and does yearly benchmark studies of their
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