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

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

A Hard Look At Your ‘Soft’ Hedge Fund Marketing Information

Dec 8 2016 | 9:03pm ET

Conventional wisdom holds that due diligence examines quantitative as well as qualitative...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR