Tuesday, 13 October 2015
Last updated 14 hours ago
Jun 27 2011 | 3:05am ET
The Ohio Public Employees Retirement is poised to make its first foray into single-manager hedge funds a big one. The $76 billion pension plans to invest about $1.2 billion in single and multi-strategy funds in the third quarter, Pensions & Investments reports.
The move follows OPERS’ investment of $700 million in funds of hedge funds last year. The pension boosted its allocation to hedge funds to 3% last year, as well.
OPERS will not issue requests for proposals; instead, the pension has asked interested managers to contact the system directly. Those interested managers should have at least $1 billion in assets under management.
Hedge fund consultant Cliffwater will assist the pension in due diligence and will recommend managers to OPERS. The first round of funds is expected to be completed during the third quarter of the year.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…