Thursday, 23 October 2014
Last updated 16 hours ago
Mar 22 2010 | 2:25pm ET
New Jersey’s public pensions funds will pour $1.2 billion into alternative investments, a move that will increase their hedge fund exposure by almost a quarter.
The New Jersey State Investment Council approved allocations of $100 million apiece to new hedge funds managed by Brevan Howard Asset Management and Pershing Square Capital Management. It also added $250 million to funds of hedge funds managed by Goldman Sachs Asset Management and Rock Creek Group; the former now manages $597 million for the Garden State, and the latter $494 million.
The new and expanded commitments bring to $3.6 billion New Jersey’s hedge fund portfolio. The SIC manages $67.3 billion.
New Jersey also allocated $500 million to commodity-linked notes. Cargill will receive $150 million of it, with the rest going to one or more new CLNs.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...