Saturday, 30 August 2014
Last updated 1 day ago
Apr 9 2010 | 1:20am ET
In Fresno, Calif., common sense triumphs over captains of industry. Common Sense Investment Management, that is, which beat out the Blackstone Group for the county’s shrinking hedge fund allocation.
The Fresno County Employees’ Retirement Fund has decided to redeem its $15 million investment with Blackstone Alternative Asset Management this summer, handing the money instead to Portland, Ore.-based Common Sense, which it hired in June. The move leaves the pension’s entire hedge fund allocation with just two firms, Common Sense and Grosvenor Capital Management, also hired in June.
“It did not make sense to leave the $15 million mandate we had with them,” the pension’s retirement administrator, Roberto Pena, told HFM Week. Blackstone had bid for the fund of hedge funds mandate, but lost to Common Sense and Grosvenor.
Aetos Capital and EnTrust Capital Management were also in the running, although the latter was disqualified over its due-diligence policy.
The Fresno plan last year slashed its hedge fund allocation from 9% to 4% in response to market turbulence.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...