Thursday, 28 August 2014
Last updated 2 hours ago
Sep 20 2010 | 1:25am ET
One alternatives investments veteran will replace another at the helm of New Jersey’s public pension funds.
Robert Grady, a former Carlyle Group partner, was elected chairman of the New Jersey State Investment Council. He succeeds Orin Kramer of Boston Provident Partners, who did not stand for reelection.
Grady, who now works as a managing director at Denver-based private equity firm Cheyenne Capital Fund, was appointed to the council by Gov. Chris Christie in May. He served as a budget adviser on Christie’s transition team and has chaired his Council of Economic Advisors since January.
Under Kramer, the $68.3 billion system has moved increasingly into alternative investments. That much appears not to be changing under Grady—the council last week voted to draft new rules that would allow it to invest up to 38% in alternatives. Currently, the plan has a 28% limit and invests 15% in the asset class.
“This would not necessarily increase New Jersey’s exposure to any alternatives by a nickel,” the outgoing Kramer said. “It would simply give the council flexibility.”
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...