Wednesday, 7 October 2015
Last updated 20 hours 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.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…