Sunday, 19 April 2015
Last updated 12 hours ago
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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…