17 Bruce Wilcox, Cumberland Associates

Cumberland Associates has a 30-year track record and is in its third generation. Structured around five portfolio managers, it takes a long-term value approach. The cumulative wisdom of the organization (including retired partners) gives it its edge.

259

PART THREE The Reverse Side of the Coin—What Investors Have to Say

18 Institutional Interest

Case Study Interviews with CalPERS, a large Japanese institution, and Swiss Life Insurance Company.

271

19 Significant Endowment Presence Continues

Case Study Interviews with the University of North Carolina at Chapel Hill, Stanford University, Vassar College, and Wesleyan University.

285

PART FOUR Moving Forward

20 Where the Hedge Fund Industry Is Headed

309

Endnotes

312

Index

318