Fla. Pension Boosts Hedge Funds, With Plans For More

Dec 10 2010 | 12:18am ET

Florida's state pension manager has hired three hedge funds and is preparing to hire three more.

The Florida State Board of Administration approved the investments in three hedge funds, which the $148 billion plan would not identify. Deputy executive director Kevin SigRist told the board's investment advisory council that one was an event-driven merger arbitrage fund, another a long short/equity fund and the third a long/short credit fund, HFMWeek reports.

Florida has begun due diligence work for three further hires, looking for managers in the real estate, strategic investments and fixed-income spaces. The strategic investments manager will also be charged with overseeing the plan's $350 million—but rapidly growing—hedge fund portfolio.

Earlier this year, Florida hired four activist hedge funds, Cevian Capital, Knight Vinke Asset Management, P2 Capital and Ramius Capital.


In Depth

Israeli Hedge Fund Harnesses Big Data

Jul 28 2014 | 8:10am ET

Apica Green is a multi-million dollar Israeli hedge fund that is based in Tel Aviv...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

Why Is The Shipping Industry Underwater?

Jul 31 2014 | 7:31am ET

Anyone who’s taken a look at the global shipping industry recently probably knows...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note