Wednesday, 20 August 2014
Last updated 21 min ago
Nov 30 2010 | 12:35pm ET
New Jersey's state public pension manager is poised to pour $300 million into hedge funds—including two new hires.
The New Jersey State Investment Council earlier this month may award a pair of $100 million mandates. The Garden State last month boosted its alternative investments limit to 38% from 28%.
The beneficiaries of the new largesse are likely to be Brummer & Partners and Winton Capital Management. The $70.2 billion pension is considering awarding the mandates to the former's Lynx global derivatives hedge fund and to the latter's Winton Futures Fund, HFMWeek reports.
The SIC also voted to boost its investments with Davidson Kempner Capital Management and King Street Capital by $50 million each. Both hedge funds currently manage $100 million for the pension.
Even with the new allocations, New Jersey still has a long way to go before reaching its alts. limit. The system had 14.26% of its assets invested in alternatives at the end of the third quarter, and only one third of that in hedge funds.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note