Thursday, 29 January 2015
Last updated 4 hours ago
Apr 6 2011 | 3:43am ET
A Virginia teachers’ pension may pour more than $60 million into its fund of hedge funds portfolio.
NEPC, the consultant to the $1.6 billion Educational Employees’ Supplementary Retirement System of Fairfax County, is poised to recommend the pension increase its hedge fund allocation from 5% to 8%. “With continued moderate volatility and dislocation in security prices, hedge funds in general should continue to do well,” NEPC tells the pension’s board in a presentation.
The new allocation would not trigger a manager search, HFMWeek reports. Instead, Fairfax would award an additional $32 million to each of its two existing fund of hedge funds managers, Grosvenor Capital Management and Permal Group. The two firms currently manage a combined $85 million for the system.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…