Tuesday, 30 September 2014
Last updated 3 hours ago
Jan 14 2011 | 10:37am ET
An Arizona pension that has poured more than $200 million into hedge funds in recent months is preparing to jump into hedge fund seeding.
The Arizona Public Safety Personnel Retirement System plans to launch a seeding program by the end of the year, Hedge Fund Alert reports. The move would make the $6.5 billion system one of a few public pension funds to make seed investments in hedge funds.
Ryan Parham, chief investment officer, said that the pension's hedge fund consultant, Albourne Partners, would advise on manager selection but that few other details have been worked out. It is unclear, for instance, if Arizona would take a stake in the firms and a part of their profits, for instance.
Parham did say that the system is likely to favor former proprietary traders in seeking out seed investments. He also said that he's spoken to several other public pension funds which might become co-investors alongside Arizona.
The ambitious seeding plan comes after a busy few months of alternative investing for the pension. The fund most recent allocated $40 million to emerging markets debt fund Iguazu Partners, run by Wellington Management. Since November, Arizona has awarded mandates of $70 million to Bridgewater Associates, $60 million to Centerbridge Partners, $50 million to Davidson Kempner Capital Management, and $40 million each to Luxor Capital Partners and the LSV Special Opportunities Fund.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...