Wednesday, 29 July 2015
Last updated 9 min ago
May 3 2010 | 10:03am ET
A pair of funds of hedge funds is the beneficiary of a Virginia pension’s rebalancing act.
The Fairfax (Va.) Educational Employees’ Retirement System will invest an additional $16 million with Grosvenor Capital Management and $12 million with Permal Investment Management, HFMWeek reports.
The move, at the recommendation of its consultant, NEPC, will both return Fairfax to its 5% hedge fund allocation and leave the two funds of funds managing roughly equal sums for the plan.
The Fairfax pension manages $1.3 billion.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…