Tuesday, 31 May 2016
Last updated 3 days ago
Jul 26 2010 | 11:53am ET
Prisma Capital Partners has won the first-ever fund of hedge funds mandate awarded by Denver’s public pension plan.
The Denver Employees Retirement Plan picked Prisma to manage $80 million, Pensions & Investments reports. Steven Hutt, the pension’s executive director, credited Prisma’s diversification, risk analysis and returns history for the selection.
Denver recently reallocated 5% of its $1.6 billion portfolio to funds of funds from core fixed-income. The allocation was funded by terminating three fixed-income managers.