Tuesday, 23 September 2014
Last updated 5 hours ago
Feb 25 2011 | 9:08am ET
The Illinois Teachers' Retirement System has made a series of allocations to alternative investment managers.
At its board meeting Thursday, the $34.6 billion public pension voted to invest $50 million each with BlueMountain Capital Management and Claren Road Asset Management. It also moved to invest $25 million each in a pair of emerging managers: Herndon Capital Management, which won an active domestic large-cap equity mandate, and Strategic Global Advisers, which was picked to run an active international all-cap equity portfolio.
The latter two allocations were made from TRS' dedicated emerging managers program, Pensions & Investments reports.
In addition, the Illinois plan invested nearly $100 million in a pair of private equity funds. Oaktree Capital Management will receive $68 million for its European Principal Fund III, while Sofinnova Venture Partners was awarded $30 million for its Fund VIII, a biotechnology and pharmaceuticals vehicle.
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 McKitich, CIO of Petty 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…
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.