March 17 (Bloomberg) — Thomas Judge, one of the first institutional investors to dip his toes into venture capital as a portfolio manager for the pension fund of AT&T Corp., has died. He was 83.
He died on March 10 at his home in Garwood, New Jersey, his son, Thomas Judge III, said in an interview. The cause was pulmonary fibrosis, diagnosed last year.
As head of alternative investments for AT&T from 1980 to 1995, Judge helped establish the first ties between institutional investors and startup ventures. Such investments were made possible by a 1979 U.S. Labor Department decision that pension funds wouldn't violate the "prudent man" rule of the Employee Retirement Income Security Act by putting money in riskier asset classes.
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