Tuesday, 31 March 2015
Last updated 24 min ago
Jun 27 2011 | 3:01am ET
A major Pennsylvania pension is planning a big boost in its hedge fund portfolio.
The Pennsylvania Public School Employees' Retirement System in March increased its hedge fund target to 12%, giving the $51.2 billion public pension an extra $1.2 billion to play with in the space. And play it will, seeking out single-manager hedge funds will the help of hedge fund consultant Aksia.
In addition to single- and multi-strategy funds, the Pennsylvania pension may also add emerging hedge fund managers, although details of that plan remain to be worked out, Pensions & Investments reports.
Some $550 million of the $1.2 billion has already been allocated to Mariner Investment Group and Capula Investment Management.
PSERS does not plan to issue requests for proposals to find managers for the rest.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…