Monday, 1 June 2015
Last updated 6 hours 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…