Wednesday, 30 July 2014
Last updated 12 hours ago
May 25 2011 | 1:53am ET
Austin's finest have entrusted a part of their pension to New York-based hedge fund Phoenix Investment Advisors.
The Texas capital's City of Austin Police Retirement System last month approved the $5 million investment in the JLP Credit Opportunities Fund, HFMWeek reports. The fund focuses on distressed corporate credit and capital structure arbitrage.
Phoenix's cash will come from the $507 million plan's redemption from Orleans Capital.
Austin Police are also changing funds at the Clinton Group, pulling $1.6 million from its equity fund and adding the money to its investment in the firm's multi-strategy fund. After the transfer, that fund will manage $13.5 million of the pension's cash.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…