Friday, 25 July 2014
Last updated 19 hours ago
Apr 16 2010 | 12:03pm ET
The Santa Barbara County (Calif.) Employees’ Retirement System has canned its only hedge fund manager and will seek a new fund of hedge funds manager after its investment is liquidated this summer.
The $1.7 billion public pension fund is bidding farewell to Arden Asset Management, which manages a $30 million fund of funds mandate for SBCERS. One of the plans trustees, Donald Kendig, told HFMWeek that it wants to hire a firm with a “broader and more diversified product” than Arden.
“Arden has another broader product, but we wanted to take it to the market again and chose not to invest with them,” Kendig said.
SBCERS will begin its search for a new fund of fund managers after its Arden investment is returned in June.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…