Sunday, 3 May 2015
Last updated 1 day 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.
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…