Milwaukee Mulls Fund Of Hedge Funds Investment

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.


In Depth

Q&A: Neil Azous Talks Global Macro Investing

Nov 24 2014 | 12:41pm ET

Neil Azous is the founder and managing member of Rareview Macro, an advisory firm...

Lifestyle

Griffin Selling Chicago Apartment

Nov 26 2014 | 11:40am ET

Citadel Investment Group’s Kenneth Griffin is making clear to his estranged wife...

Guest Contributor

Why The Big Money Is Going To Europe

Nov 14 2014 | 6:03am ET

Peer-to-peer lending was invented with the individual investor in mind. But despite...

 

Sponsored Content

    For Hedge Funds, Mastering Data Is Key To Success

    Nov 4 2014 | 9:45am ET

    Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

November 2014 Cover

Building a better market

Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.