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Tate Embraced Hedge Funds, Then Dropped Them

WSJ – Hedge funds enjoyed three years of popularity with the Tate Gallery, the charitable organization responsible for two of London’s best-known art spaces — drawing almost a quarter of the institution’s investment portfolio. But the financial crisis resulted in them being dropped within a matter of months.

As an institutional investor, the Tate Gallery is small. The combination of Tate and its associated charity Tate Foundation, which invest almost identically, gives a total of £27 million to invest, valued as at the end of March last year, the most recently published valuation.

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