Monday, 22 September 2014
Last updated 12 min ago
Apr 20 2011 | 11:01am ET
The Texas Permanent Schools Fund has put one hedge fund manager on watch and boosted its investment in another.
The $24.4 billion fund’s board of directors voted in January to put K2 Advisors on watch; the automatic move came because the $400 million separately managed account managed by K2 underperformed its benchmarks for three straight quarters.
In addition, Texas moved $85 million out of another of its managers, GAM Holding, and into Mesirow Financial, HFMWeek reports. Both funds of hedge funds now manage $300 million on behalf of the fund.
Texas has a total of five funds of funds managing separate accounts, managing a combined $2.46 billion.
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.