Tuesday, 29 July 2014
Last updated 2 min ago
Jan 18 2007 | 10:19am ET
The $5 billion Indiana State Teachers’ Retirement Fund is currently reviewing p.e. fund of funds candidates for a $250 million allocation, according to chief investment officer Bob Newland. The fund, which issued a request for proposal in November, won’t reach a final decision until the end of February.
Newland said the fund has been invested in private equity for five years and wants to expand its allocation to the alternative asset class. “As part of that expansion, we may add another manager,” Newland said.
The fund is currently invested with Darien, Conn.-based Portfolio Advisors, a separate account investment advisory services firm on both a discretionary and non-discretionary basis. “They set up our program for us and invest on our behalf in various partnerships, but it’s not a fund of funds where we give them money and they distribute it according to their discretion. We currently have $338 million committed but have net investments of about $160 million,” Newland said.
The fund also allocates to hedge fund strategies such as Pimco StocksPLUS, which is an absolute return strategy, but has no allocation to traditional fund of hedge funds managers, according to Newland, who said, “we’re looking into that.”
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…