Board of Visitors minutes :: October 15, 1999 :: University of Virginia Library

Ms. Brenda K. Cooper as Assistant Professor of Nursing, The University of Virginia's College at Wise, for two academic years, effective August 25, 1999.

RESIGNATION

The following resignation was announced:

Ms. Elizabeth L. Samerdyke, Assistant Professor of History, The University of Virginia's College at Wise, effective May 24, 1999, for personal reasons.

APPOINTMENT

The following appointment was announced:

Ms. Elizabeth J. Meade-Dean as Director of College Relations/Interim Assistant to the Chancellor, for two years, effective March 25, 1999.

On motion, the meeting was adjourned at 2:10 p.m.

Respectfully submitted,

Alexander G. Gilliam, Jr. Secretary

AGG:jb

The following resolutions, not requiring action by the full Board, were adopted in Committee meetings held since the May, 1999, meeting of the full Board. They are listed here as a matter of record.

Buildings and Grounds Committee, September 23, 1999

Scott Stadium Expansion: RESOLVED that the Buildings and Grounds Committee of the Board of Visitors has reviewed the plans for the south end of Scott Stadium, as part of the Scott Stadium Expansion project, and approves them and the landscaping proposed by the Executive Vice President and Chief Financial Officer of the University.

University of Virginia Investment Management Company, June 7, 1999

The following resolutions were adopted:

RESOLVED that $25 million of funds from the Endowment be invested in Raptor Global Fund Ltd.

RESOLVED that $25 million of funds from the Endowment be invested in Maverick Fund Ltd.

RESOLVED that $25 million of funds from the Endowment be invested in Chilton Investment Partners, L.P.

RESOLVED that up to $25 million of funds from the Endowment be invested in Kleiner, Perkins, Caufield & Byers.

RESOLVED that up to $25 million of funds from the Endowment be invested in Sequoia Capital.

RESOLVED that divestment of funds held by Bennett Management Fund and Chesapeake Partners is approved.

RESOLVED that the proposed key elements and structure of the Private Equity and Real Estate programs are approved.

RESOLVED that assets be sold as proposed by management to provide funds for the investment of $75 million by July 1, 1999, in Raptor Global Fund Ltd., Maverick Fund Ltd., and Chilton Investment Partners, L.P.

University of Virginia Investment Management Company, September 29, 1999

The following resolution was adopted:

RESOLVED by the Board of the University of Virginia Investment Management Company that the President of UVIMCO is authorized to enter into a Securities Lending Agreement with Cantor Fitzgerald or Goldman Sachs for the purpose of lending securities from the University's endowment operating funds.

RESOLVED by the Board of the University of Virginia Investment Management Company that the President of UVIMCO is authorized to transfer the Holland Scholarship funds to the Raptor Global Fund, Ltd.

RESOLVED by the Board of the University of Virginia Investment Management Company that the President of UVIMCO is authorized to commit an additional $10 million to Lone Pine Capital, LLC.

The following resolution was adopted:

RESOLVED by the Board of the University of Virginia Investment Management Company that the guidelines for the Pooled Endowment Fund be amended as follows:

1. The target allocation for domestic equity shall be decreased from 30% to 20%

2. The target allocation for absolute return strategies shall be increased from 10% to 15%

3. The target allocation for private equity shall be increased from 10% to 15%

4. Up to 20% of the bond fund may be allocated to mortgage-backed bonds issued by Federal agencies

5. Up to 20% of the private equity fund may be allocated to European funds

RESOLVED by the Board of the University of Virginia Investment Management Company that the President of UVIMCO with the concurrence of the international and marketable alternative subcommittees is authorized to make an investment in an Asian hedge fund.

RESOLVED by the Board of the University of Virginia Investment Management Company that the President of UVIMCO is authorized to sell the investment in Security Capital.

Assignment of Pavilion IX for One Year

By consensus, the Executive Committee on May 28th assigned Pavilion IX, West Lawn, to Ms. Karen van Lengen, the Dean of the School of Architecture, and her family for a period not to exceed one year and commencing on or about September 1, 1999.