1.   But now the professionals who manage portfolios for mutual funds, college endowments and big corporations will be asking questions.

2.   Hedge funds are private funds that cater to the wealthy and to institutional investors like college endowments and pension plans.

3.   Hedge funds are private funds that cater to the wealthy and to institutional investors like college endowments.

4.   Hedge funds are the exclusive investment vehicles that cater to the wealthy and to institutional investors like college endowments and pension funds.

5.   Hedge funds, however, which cater to the wealthy and to institutions like college endowments, are finding it easier to justify their existence.

6.   Hedge funds are private investment funds that cater to the wealthy and to institutions like college endowments and state pension funds.

7.   Investors included pension funds, private foundations, college endowments and wealthy individuals.

8.   Investors include pension funds, private foundations, college endowments and wealthy individuals.

9.   Joe Murphy, like many treasurers of big college endowments, racked up years of great performance during the bull market.

10.   Pension funds, college endowments and other institutional and wealthy individual investors continue to pour money into venture capital firms.