Tuesday, 28 April 2015
Last updated 1 hour ago
Jul 9 2010 | 10:59am ET
Britain’s Pension Protection Fund is making good on its pledge to diversify its portfolio through alternative investments. The agency, which backstops the U.K.’s pension funds, is looking for as many as 10 managers to run alternative credit strategies portfolios.
PPF spokeswoman Ana Moreno told Pensions & Investments it was unclear exactly how much that the £4.6 billion fund would invest in alternative credit, and said that chosen managers would receive their allocations over the next four years. In addition to hedge funds, Moreno said that PPF will look at other managers running high-yield corporate debt, distressed debt, mezzanine financing, bank loans and other strategies.
PPF in May decided to increase its alternative investments allocation to between 20% and 25%, and for the first time added hedge funds and private equity funds to its list of acceptable investments.
Interested managers have until July 27 to submit a proposal to PPF contracts manager Colin McAlpine. McAlpine’s e-mail address is email@example.com.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…