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Abstract: 

Family foundations are major players in the investment world, with nearly 30,000 organizations accounting for $182 billion in assets.1 Like other institutional investors, they have gravitated to hedge funds in a big way in recent years, motivated by anemic returns elsewhere and a chance for diversification or gaining access to an exposure not otherwise available. Hedge fund investments tend to be much less liquid than other alternatives. This is a big factor for any family foundation with a pre-defined and rigid distribution schedule associated with a capital project such as financing a hospital or school.

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Affiliations:  1: BVA, LLC.