Friday, 29 August 2014
Last updated 10 hours ago
Jun 15 2011 | 2:27am ET
The Florida Retirement System has hired two hedge funds and is preparing to hire as many as seven others as it seeks to meet its 6% target to the asset class.
The Florida State Board of Administration, which overseas the $131.5 billion pension fund, awarded $100 million each to King Street Capital Management and Taconic Capital Advisors, HFMWeek reports. The board also approved two other hedge fund investments, although the names of the lucky managers were not disclosed, pending legal negotiations.
Two other hedge fund managers, GSO Capital Partners and Colony Capital Management, are near final deals with the pension for their respective credit funds.
The hires follow those earlier this year of Highline Capital Partners and Mason Capital, with the former, a long/short equity fund, getting $150 million, and the latter, an event-driven fund, $100 million. The SBA also added hedge fund Starboard Value to FRS' activist portfolio with a $125 million allocation.
The SBA has also contacted three other hedge funds to begin due diligence.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...