Top Hedge Fund Investors: Stories, Strategies, and Advice

CHAPTER 8

Early Endowment CIO and Entrepreneur

Louis W. Moelchert, Jr., Managing Partner, Private Advisors, LLC

 

 

 

During his 30-year tenure at the University of Richmond, Louis W. Moelchert, Jr., became one of the first endowment chief investment officers to make significant investments in hedge funds. Starting in the 1980s, his early commitment to alternative investments helped him achieve a top quartile track record among similar institutions. His strong track record, coupled with an entrepreneurial mind-set, led him to start Private Advisors, LLC in 1997.

Private Advisors, LLC invests approximately $4 billion of client assets in both hedge funds and private equity partnerships. As managing partner, Moelchert serves on the investment committees of all funds and oversees all investment products and professionals.

He served on the investment committee for the Virginia Retirement System from 1996 to 2000 and chaired it from 1998 to 2000. He was also chairman of the Commonfund Board of Trustees from 1993 to 1997 and served as a trustee from 1986 to 1998. Moelchert received his BBA and MS in accountancy from the University of Georgia.

BACKGROUND

Armed with two degrees in accounting from the University of Georgia, Lou Moelchert embarked on a career in higher education, serving as the chief financial officer or VP of finance at three institutions. Although he had a personal interest in investing, he had no professional investment responsibilities when recruited for the CFO job ...