October 16, 1998

Hedge-Fund Losses Prove Costly to Brown U. and U. of Iowa

By JOYE MERCER

Brown University and the University of Iowa Foundation confirmed last week that they had suffered losses because a hedge fund in which they are investors had lost about $1.3-billion since August. Two other institutions, Emory and Yale Universities, declined to comment on reports that they are partners in the fund, Everest Capital Ltd.

The Wall Street Journal reported this month that the universities had

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