Thursday, 18 September 2014
Last updated 2 hours ago
Mar 12 2010 | 8:06am ET
The British pension protection agency is to make its first foray into hedge and private equity funds, and in a big way.
The Pension Protection Fund said this week that it would boost its alternative investments allocation to between 20% and 25%. Currently, the agency, which backstops the country’s pension funds, has only 10% allocated to alternatives—currency and real estate—and none to hedge funds or p.e.
Ian McKinlay, chief investment officer, said PPF was “very deliberately” trying to be more aggressive than the pension funds it serves as a buffer.
“Even though we are investing in private equity and infrastructure we are doing so in a very controlled fashion and will continue with our hedging program that served us very well through the crisis,” he told Reuters.
The nearly £4 billion fund has already has several private equity firms in mind, and will also invest in absolute return funds, McKinlay said.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.