Vermont Invests $150 Million In Funds Of Hedge Funds

Aug 30 2010 | 1:02pm ET

The Vermont State Retirement System has made its first hedge fund hires.

The $3 billion pension fund last week allocated 5% to hedge funds, and quickly picked three firms to fill that allocation, Pensions & Investments reports. Vermont awarded $60 million mandates to Grosvenor Capital Managements multi-strategy Institutional Partners fund and Permal Investment Management’s Fixed-Income Holdings Institutional fund, as well as about $30 million to GAM’s U.S. Institutional Diversity fund.

All three hires are still pending, with contract negotiations ongoing.

“The committees aim was to be broadly diversified among the principal hedge fund strategies," Steven Rauh, chairman of the pension investment committee, told P&I.

Consultant NEPC assisted Vermont in selecting the three managers.


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...

 

FINalternatives Trending

From the current issue of