Monday, 22 September 2014
Last updated 2 days ago
Aug 16 2010 | 7:24am ET
Blackstone Alternative Asset Management has won the competition to manage $10 million for Tennessee’s third-largest city.
The firm won the fund of hedge funds mandate from the Knoxville City Employees’ Retirement Pension Fund, Pensions & Investments reports. The hire follows the termination of one of Knoxville’s fund of funds managers, Union Bancaire Privée, last year, and the reduction of its fund of funds allocation from 7% to 5%.
Knoxville fired UBP due to its exposure to the Bernard Madoff Ponzi scheme, putting some $1 million of the pension’s money at risk.
Cadogan Management continues to hold Knoxville’s other fund of funds mandate, also running $10 million.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.