Va. Pension Set To Boost Funds Of Funds

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.


In Depth

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

iCapital Network: The Trump Effect On Direct Lending

Feb 23 2017 | 4:21pm ET

The arrival of the Trump Administration has raised questions among private debt...

 

From the current issue of