Thursday, 8 October 2015
Last updated 1 min ago
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.
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…