Tuesday, 24 November 2015
Last updated 3 hours ago
Aug 3 2010 | 3:44am ET
Just as everyone else seems to be getting out of funds of hedge funds, Milwaukee’s $4 billion public pension plan is jumping in—eventually.
Two years ago, Mercer, the investment consultant to the Milwaukee City Employees, recommended that the pension move some of its money into alternative investments. And for two years, the plan sat on that recommendation, making its first foray into the space with a pair of private equity commitments totally $80 million in April. Now, the Cream City pension is planning its first hedge fund investments, but not until the end of the year, at the earliest.
Milwaukee first plans to invest in infrastructure and commodities. Its board will then consider hedge funds, Hedge Fund Alert reports. Mercer has recommended a 2% allocation, which would match its private equity allocation.
While no commitment has been made, Tom Rick, the plan’s chief investment officer, has already begun talking to funds of funds. He told HFA that, at least initially, Milwaukee will use funds of funds, rather than investing in hedge funds directly.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…