Indiana Teachers Explores Private Equity Fund of Funds

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.”


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

A Hard Look At Your ‘Soft’ Hedge Fund Marketing Information

Dec 8 2016 | 9:03pm ET

Conventional wisdom holds that due diligence examines quantitative as well as qualitative...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR