Sunday, 26 April 2015
Last updated 1 day ago
Mar 19 2007 | 2:09pm ET
The $71 billion University of California endowment and retirement funds are boosting their allocations to hedge funds and private equity funds. During the board’s March 6th meeting, CIO Marie Berggren recommended that the University of California Retirement Plan this year set an initial target of 0.5% for hedge fund investments and a long-term target of 5% for the asset class in 2008. She also recommended that UCRP increase its private equity commitment from 2% to 3% this year, and bump that up ever further to 5% next year.
As for the University of California General Endowment Pool, Berggren recommended that the allocation to absolute return strategies in this portfolio increase from 15% to 20% this year. She also recommended increasing the private equity portfolio from 3% to 5%, and then upping it further to 7.5% next year.
The new allocations are set to be approved on July 1.
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…