Mich. Pension To Plow $75M Into Long/Short Equity

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.


In Depth

Q&A: Reg A+ Will Transform the Alternative Asset Landscape

Jul 7 2015 | 4:03pm ET

In addition to easing capital formation for small companies, Regulation A+ has enormous...

Lifestyle

Fiat Chrysler Files Paperwork For Ferrari IPO

Jul 23 2015 | 5:05pm ET

Italian sportscar maker Ferrari has taken a step closer to a stock market listing...

Guest Contributor

Lifting of Foreign Ownership Limits Signals Sea Change in Vietnam's Capital Markets

Jul 28 2015 | 3:01pm ET

The lifting of restrictions on foreign ownership limits in Vietnam later this year...

 

Editor's Note