Sunday, 25 January 2015
Last updated 1 day ago
Jun 14 2011 | 1:59am ET
Michigan's main public pension system is nearing the hire of a fund of hedge funds manager.The investment staff of the state's Bureau of Investments has almost finished its search, spokesman Caleb Buhs told Pensions & Investments. The selected fund of funds manager will win part of the $51.4 billion Michigan Retirement System's 6% hedge fund allocation.
Michigan boosted that allocation from 2% to 6% last year. Currently, the pension has about 2.8% of its portfolio—$1.46 billion—invested in hedge funds.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…