Wednesday, 28 January 2015
Last updated 8 min 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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…