Saturday, 26 July 2014
Last updated 11 hours ago
May 27 2011 | 11:33am ET
A major New Mexico pension is using its large opportunistic credit allocation to load up on hedge funds.
The New Mexico Educational Retirement Board next month will approve $250 million in allocations to Waterfall Asset Management, HFMWeek reports. $150 million will go to the Waterfall Eden Fund, which invests in high-yield and distressed asset-backed securities, with the balance going to the Waterfall Victoria Fund, which invests in less liquid ABS.
In February, the $9.2 billion pension invested $150 million in GSO Capital Partners as part of its opportunistic portfolio, which does not count against its 10% target allocation to absolute return strategies.
New York-based Waterfall is an affiliate of MD Sass-Macquarie Financial Strategies.
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…