Tuesday, 3 March 2015
Last updated 43 min 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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…