UT uses new exemption to keep confidential how much it pays investment, hedge fund managers
Daniel Connolly wrote today in the Knoxville News Sentinel about how the University of Tennessee lobbied for a public records law exemption that is now being used to hide how much the public university pays hedge fund managers. Doesn't seem quite right, does it? Connolly, a reporter with the Commercial Appeal in Memphis, did a story about the rising amount of endowment money that public colleges are pumping into private equity funds and alternative investments -- mostly hedge funds -- often in offshore accounts. The University of Tennessee system has $345 million in such funds, about 38 percent of all of its investments. From the story: Under the new law, [...]