Friday, 26 December 2014
Last updated 2 days ago
Jul 23 2010 | 1:26pm ET
Three of New York City’s five public pension funds are mulling their first allocations to hedge funds.
The city’s Comptroller issued a request for proposals for the New York City Employees’ Retirement System and the pension funds for the city’s police department and fire department, seeking a hedge fund investment consultant. The move comes after the pensions fired six managers due to poor performance this year.
The winners will get a three-year contract with the pension funds, which have a combined $64.5 billion in assets. The consultant or consultants will be charged with setting up an investment strategy and vetting managers, as well as educating the pensions about the unfamiliar asset class.
Proposals are due Aug. 9.; interested firms must have at least $1 billion in assets under management and be in the employ of at least three other public pension funds. Firms must also be registered with the Securities and Exchange Commission.
The city’s comptroller, John Liu, could make his selection by October.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.