Friday, 17 April 2015
Last updated 10 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.
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…