Tuesday, 5 May 2015
Last updated 12 hours ago
Apr 2 2007 | 11:29am ET
The $7.3 billion Orange County Employees Retirement System is making its first foray into the hedge fund via fund of funds. The system will issue a Request for Information for a hedge fund of funds manager sometime within the next few months, according to Shanta Chary, Orange County’s chief investment officer.
“There was an increase in allocation to the absolute return strategy from 5% to 7% [at last month’s board meeting],” said Chary. “The allocation allows for greater diversification and provides different sources of return for the overall portfolio. The return targets have not been yet approved, but will be low volatility.”
Chary added that the system is looking to allocate between $150 million to $200 million to an unspecified number of managers and it will be at least a month before the RFI goes out.
The system currently also has a 5% allocation to private equity fund of funds managers and is not to looking to increase this allocation, said Chary.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…