Florida Pension Hot For Hedge Funds

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.


In Depth

Q&A: Open Season For Closed-End Funds

Aug 29 2014 | 10:00am ET

When Maury Fertig and Bob Huffman, former Salomon Brothers coworkers, launched...

Lifestyle

Och Funds Women In Finance Initiative At U-M

Aug 28 2014 | 3:01pm ET

Och-Ziff Capital founder Daniel Och and his wife have made a "generous donation"...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    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…

 

Futures Magazine

July/August 2014 Cover

The time was right

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 ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.