Sunday, 21 September 2014
Last updated 2 days ago
Jan 13 2011 | 1:18pm ET
The New Jersey Division of Investment is rewarding Centerbridge Partners for its strong performance over the past three years.
The $70 billion public pension fund made a $40 million follow-up investment to the firm’s Credit Partners fund on Jan. 1. Division director Timothy Walsh told the state’s Investment Council that the Centerbridge fund is “one of our best performing hedge funds,” having returned a cumulative 47% since the pension first invested $100 million in November 2007.
Certainly, the Centerbridge investment did not seem one of the Garden State’s best early on: It lost 23.3% in 2008. But the fund “rebounded nicely,” returning 62.5% in 2009 and 17.4% through October 2010.
The Centerbridge investment helped the pension return 8.7% in the second half, just ahead of its 8.53% benchmark. The Division’s returns were 13.4% in the previous fiscal year, which ended in June.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.