Home > News > Manager Selection > University of Florida Grad Takes Over as Chairwoman of School’s Endowment
Manager Selection

University of Florida Grad Takes Over as Chairwoman of School’s Endowment

Bessemer Trust CIO Rebecca Patterson will serve a six-year term.

By Jeff Ostrowski

Bessemer Trust Chief Investment Officer Rebecca Patterson will serve a six-year term as chairwoman of the University of Florida’s $1.57 billion endowment, the university said Tuesday.

Patterson, a 1990 graduate of the university, runs a $100 billion portfolio at Bessemer Trust.

Patterson joined the University of Florida Investment Corp. board in 2013 as a volunteer director. She succeeds Andrew Banks, head of private equity firm ABRY Partners, as chair of UF’s endowment.

Both serve as unpaid volunteers, according to the endowment’s tax return.

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Before launching her investment career, Patterson earned a bachelor’s degree in journalism from the University of Florida. She worked as a journalist in London, Rome, New York, and Washington, D.C., and earned an MBA at New York University and master’s in international economics and politics at Johns Hopkins University.

Patterson was chief markets strategist for J.P. Morgan Asset Management before joining Bessemer. American Banker has named Patterson to its past three lists of “The 25 Most Powerful Women in Finance.” She serves on the New York Federal Reserve’s Investor Advisory Committee and is a member of the Economic Club of New York and the Council on Foreign Relations.

“Rebecca is a proven superstar,” William Reeser, the endowment’s chief executive, said in a statement. “Her contribution of time and talent to the oversight and management of the endowment has earned her great respect among the board and staff of UFICO.”

The endowment funds scholarships, professorships, and other university programs.

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Home > News > Corporate Moves > Viking Global to Return $8 Billion to Investors After Daniel Sundheim’s Resignation
Corporate Moves

Viking Global to Return $8 Billion to Investors After Daniel Sundheim’s Resignation

$32 billion hedge fund said the move will allow it to invest in smaller, more liquid investments.

By Michael Katz

Hedge fund Viking Global Investors reportedly is returning approximately $8 billion to investors in its Viking Global Equities and Viking Long funds in a move it said will help it achieve “greater operating flexibility.”

The announcement came in a letter to investors that also informed its clients that Daniel Sundheim, the hedge fund’s chief investment officer, would be leaving the company to pursue his own business interests.

Andreas Halvorsen, who founded the $32 billion hedge fund, said in the letter that Sundheim “is in a league of his own as a stock picker and portfolio manager.”

Sundheim, who had been with Viking for 15 years, is being replaced by portfolio managers Ben Jacobs and Ning Jin, who will become co-CIOs. Jin joined the hedge fund in 2007, covering industrials, and Jacobs was hired by Viking in 2009 to cover consumer and materials.

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By returning the $8 billion to investors, the hedge fund said in the letter that its traders would be able to invest in smaller, more liquid positions. Viking said it has already sold off the portion of its holdings it will be giving its investors. The letter also reportedly said that Sundheim, who has already been helping with the transition for Jacobs and Jin, is leaving because Viking couldn’t find a role that would give him the flexible investment mandate he was seeking.

Sundheim, joined Viking as an analyst in 2002, and was named co-CIO in 2010 before becoming the lone CIO in 2014.

 

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