Tuesday, 31 March 2015
Last updated 1 hour ago
Oct 20 2010 | 12:49pm ET
Nevada’s public university system is cutting back on its hedge fund investments.
The Nevada System of Higher Education will liquidate the $105.8 million in absolute return investments in its operating pool. It’s a big move for the system: The hedge funds make up more than one-fifth of the pool’s $500 million, HFMWeek reports.
The move follows a recommendation from the system’s adviser, Cambridge Associates, which was “not entirely comfortable with the manager concentration in the portfolio as it currently stands.”
“Two managers is too few given the level of risk in this asset class,” according to the minutes from the board of regents’ June meeting. Those two managers are Farallon Capital Management and Och-Ziff Capital Management. NSHE will also redeem its investment in the Forester Diversified Fund.
The Nevada schools will maintain their hedge fund investments in its endowment pool. The system has $25.7 million invested in two hedge funds at the much smaller endowment.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…