Monday, 1 May 2017
Last updated 2 days ago
Jan 13 2011 | 1:03pm ET
Blenheim Capital Management has beaten off Brevan Howard Capital Management in its bid to manage a piece of two University of Maine System funds.
The university chose Blenheim’s Global Markets Fund to manage money for both its $107 million endowment fund and $46 million pension plan, HFMWeek reports. The school’s investment committee was also weighing Brevan Howard’s Commodities Strategies Master Fund to fill a “trading” hedge fund mandate it issued in August.
The university system currently allocates 10% to hedge funds and 5% to market-neutral strategies. Its operating cash pool, which has $236 million in assets, currently has $5 million invested with a Permal Group fund of hedge funds.