Friday, 19 September 2014
Last updated 8 hours ago
Mar 25 2011 | 11:29am ET
The Permal Group is doing some good business in the Big Apple.
The New York City Employees Retirement System committed $250 million to the fund of hedge funds firm, just weeks after another city pension fund made a $150 million commitment to Permal. The NYCERS allocation is subject to contract negotiations, the New York City Comptroller's office said.
NYCERS manages $39.6 billion. It has no set hedge fund allocation, and will fund the new investment from its opportunistic equity portfolio.
Earlier this month, the New York City Police Pension Fund hired Permal, its first hedge fund manager.
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.