Knoxville Names Prisma To Take Over Hedge Fund Mandate

Jun 16 2011 | 10:58am ET

Knoxville, Tenn.'s municipal pension fund has found a successor to the recently-fired Cadogan Management.

The $470 million City of Knoxville Employee Pension fund has settled on Prisma Capital Partners, HFMWeek reports. The public pension plans to invest $10 million in the firm.

Prisma's success was due in part to its near-miss in Knoxville last year; the pension nearly picked it to replace Union Bancaire Privée for a different $10 million mandate, but ultimately gave that job to Blackstone Alternative Investment Management.

"The board was already familiar with the fund," executive director Michael Cherry told HFM.

Cherry said that Cadogan was terminated due to a decline in its performance. It was hired in 2007 to help Knoxville reduce its volatility amidst the financial crisis.


In Depth

Will Liquid Alts’ Performance Sustain Future Asset Flows?

Aug 25 2014 | 10:34am ET

Liquid alternative investment funds saw the highest percentage of capital inflows...

Lifestyle

Hedgies, Economists and Musicians Mingle At Milkin Mixers In Hamptons

Aug 25 2014 | 6:00am ET

Leave it to Michael Milken to bring some gravitas and sweat to the Hamptons -- along...

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.