Firm: Morgan Creek Capital Management
Fund: Morgan Creek Partners III LP
Target: $275 million
Legal Adviser: Seward & Kissel LLP
The Chapel Hill, N.C.-based investment adviser and fund-of-funds manager has raked in between $125 million and $150 million for
Expect half of the new fund’s capital to be deployed to invest in assets outside the United States. The firm recently expanded into Asia and has two principals, Managing Directors Nirav Kachalia and Jason Zhang, on the ground in China.
Supplying capital to Morgan Creek have been family offices, foundations and university endowments, where several of the firm’s professionals have logged time. Last year the firm closed on $260 million for its second fund of funds, $10 million above target.
President and Chief Investment Officer Mark Yusko founded the firm in 2004 after six years as CIO at the
Morgan Creek serves as investment adviser to Hatteras Investment Partners, a Raleigh, N.C.-based investment firm also founded by Yusko, and Salient Partners, an investment firm headquartered in Houston, Texas.—J.P.