Monday, 27 April 2015
Last updated 24 min ago
Feb 17 2010 | 10:25am ET
A suburban Michigan public pension fund is preparing to take the plunge into hedge funds.
The Oakland County Employees’ Retirement System recently allocated 5% of its $1.5 billion to long/short equity hedge funds. The strategy is a new one for the system, located north of Detroit, recommended by its consultant, Asset Consulting Group, last year.
The pension is not issuing a request for proposals for the $75 million in mandates. Instead, interested firms are being directed to ACG. OCERS’ board is expected to conduct manager interviews in April or May, Pensions & Investments reports.
The system has yet to decide whether to invest directly in single-manager funds or whether to hire a fund of hedge funds manager.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…