Thursday, 26 March 2015
Last updated 2 hours ago
Mar 29 2010 | 12:54pm ET
Add the Alaska Permanent Fund to the list of institutional investors adding direct hedge-fund investing to their repertoire.
The $36.5 billion fund’s absolute return policy has restricted it to funds of hedge funds and managed account programs. But its board of trustees has now approved direct investments in hedge funds from the APF’s 6% absolute return allocation, HFMWeek reports.
The Alaska fund has never actually invested in funds of funds, and is likely to use its new ability to invest in hedge funds that it already has exposure to through one of its existing hedge fund portfolio managers. According to HFMWeek, the fund does not yet have the in-house capability to conduct its own searches.
The APF also extolled the fee-saving benefits of investing directly in hedge funds, rather than through managed accounts.
The fund’s current alternative investment portfolios are managed by Crestline Investors, Lazard Asset Management, Mariner Investment Group and Pacific Alternative Asset Management. APF also relationships with AQR Capital Management, Bridgewater Associates, Goldman Sachs Asset Management and PIMCO.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…