Friday, 27 November 2015
Last updated 1 day 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…