Monday, 22 September 2014
Last updated 5 min ago
May 14 2010 | 1:10am ET
A Michigan public pension fund has fired one of its fund of hedge funds managers due to poor performance.
The City of Southfield Fire and Police Retirement System has redeemed its $2 million investment with Muirfield Capital Management, HFMWeek reports. The money was awarded to the $200 million pension’s other two funds of funds, Attalus Capital and Nantucket Hedge Fund, which each received an addition $1 million.
Despite parting ways with one-third of its hedge fund managers, the Southfield system says it hopes to increase its exposure to alternatives. The pension is currently limited by state law to having just 5% of its assets in hedge funds and private equity funds.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.