CHAPEL HILL – Having built a portfolio that’s reached the $2 billion mark in just two years since its founding, Morgan Creek Capital is looking to overseas markets for new opportunities.
The money management group is working to draw together a new pot of cash of at least $50 million to invest in hedge funds that work in the so-called “emerging markets” of India, China, Russia and other far-flung locations.
The move is the latest piece of corporate engineering done by Morgan Creek founder Mark Yusko. The firm has grown its funds under management from $1.2 billion in early 2005 to $1.8 billion in December to the current $2 billion.
“We continue to grow nicely, we continue to roll out funds, and we continue to hire,” says Mike Hennessy, Morgan Creek’s managing director for investments.
