Friday, 24 October 2014
Last updated 19 hours ago
May 13 2010 | 12:26pm ET
The New York State Common Retirement Fund, rocked by a pay-to-play scandal that implicated several of its hedge funds, is preparing a new $500 million hedge fund investment program focusing on new and emerging managers.
The $116 billion public pension fund plans to hire the Blackstone Group to handle the first part of the plan, managing a $200 million emerging hedge fund allocation. The New York-based firm will seek out experienced managers without a large following, but with strong potential, Hedge Fund Alert reports. Blackstone will be assisted by a smaller asset manager that has not been identified.
Blackstone beat out Protege Partners and SkyBridge Capital for the mandate.
Meanwhile, the Common Retirement Fund is preparing a $300 million hedge fund seeding program. Plans are still in their early stages, HFA reports, but the pension has begun screening incubators and funds of funds it is considering for the mandate.
CRF will take a direct stake in the hedge fund firms it seeds.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...