New Jersey Eyes Brummer, Winton For $100M Mandates

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.


In Depth

Why Ponzi Schemes Work: An In-Depth Look At The Allen Stanford Fraud

Dec 21 2014 | 10:30am ET

Texan Allen Stanford first appeared on the radars of financial regulators in 1997...

Lifestyle

Hedgie Funds US Squash Program

Dec 24 2014 | 8:46am ET

Squash, anyone?

Guest Contributor

EidoSearch’s Top Three Market Projections For 2015

Dec 23 2014 | 4:03am ET

It is that time of year again when prognosticators make their big market calls for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.