Thursday, 26 November 2015
Last updated 14 hours ago
Aug 4 2010 | 2:47am ET
The Ohio Public Employees Retirement System is planning a larger hedge fund allocation, and it needs help. The $65.7 billion public pension fund is seeking a hedge fund consultant to assist in the implementation of its new strategy.
The PERS board in May approved a plan to invest 3% in hedge funds and 2% in opportunistic funds, an increase from 3% devoted to both. Last month, it approved a tentative funding schedule, Pensions & Investments reports. The pension will conduct the consultant search in the fourth quarter or the first quarter of next year, with staff recommendations on fund of hedge funds managers towards the end of this year and single-manager hedge funds next year.
As many as 23 hedge fund managers could eventually hired by PERS. Up to three fund of funds managers will be given between $267 million and $400 million each and up to four multistrategy funds will be given between $100 million and $200 million each. As many as 16 single-strategy managers will each get between $50 million and $100 million. All told, the Ohio plan could hand out some $2 billion to hedge fund managers.
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…