Az. Pension Ponders Stark, Dreyfus Investments

May 26 2011 | 9:58am ET

An Arizona pension fund is on a major hedge fund kick.

The $6.1 billion Arizona Public Safety Personnel Retirement System's investment committee will propose two additional hedge fund allocations this week. Just last month, the public pension fund poured more than $100 million into hedge funds managed by Gracie Capital and Goldman Sachs, and is still considering $100 million in allocations to EJF Asset Management and Oaktree Capital Management. It also boosted its investment in Bridgewater Associates by $20 million.

Now, PSPRS' board will talk about investing up to $30 million in Stark Investments' ABS Opportunity Fund and up to $25 million in Louis Dreyfus Investment Group's LD Commodities Alpha Master Fund, HFMWeek reports.

In recent months, Arizona had invested in hedge funds including Iguazu Partners, LSV Partners, Luxor Capital Partners and Red Kite Management. Its investment in Bridgewater is relatively recent, as well, dating only to November. But the bet has paid off: The new investment in the firm's All Weather Portfolio came from "rebalancing some of the profits that were earned from Bridgewater's Pure Alpha Fund II strategy," the pension's April investment update explained.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of