Thursday, 18 September 2014
Last updated 4 hours 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.
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.