Sunday, 21 September 2014
Last updated 2 days ago
Apr 1 2011 | 12:05pm ET
Last month proved a good one for the Permal Group when it comes to New York City's public pension plans.
The fund of hedge funds manager, which earlier in the month won a roughly $150 million commitment from the New York City Police Pension Fund and a $250 million commitment from the New York City Employees Retirement System, can now add $50 million from its firefighters.
The New York City Fire Department Pension Fund's board of trustees approved its first investment in hedge funds, a spokesman for the city comptroller's office said. The $7.6 billion plan made the move "to further diversity the fund's investment portfolio," Michael Loughran said.
The three allocations are hedge fund firsts for all three of the pension schemes.
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.