Friday, 9 October 2015
Last updated 34 min 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.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…