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

Firm Focus: Sustainable Insight Capital Bullish On ESG

Aug 12 2014 | 9:18am ET

Bruce Kahn spent over 15 years as a research scientist/consultant on environmental...

Lifestyle

Viking Manager In Rent Dispute

Aug 11 2014 | 4:14am ET

A hedge fund manager is demanding most of his money back from his former landlord...

Guest Contributor

Majority Of Inflows Go To Brand Name Hedge Funds

Aug 12 2014 | 9:00am ET

Since the market correction of 2008, a vast majority of hedge fund net asset flows...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

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

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note