Wednesday, 1 July 2015
Last updated 4 hours 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…