Saturday, 18 April 2015
Last updated 46 min ago
Jun 29 2011 | 11:01am ET
The Houston Municipal Employees Pension System is well on its way towards making its new hedge fund allocation plan a reality.
The $2.1 billion public pension fund has allocated $31 million to the four hedge funds making up the first "tranche" of its "absolute return implementation plan," approved last year. Now, Houston has begun talks about the second tranche of the three-part plan, which could add 15 hedge fund managers and spend $80 million this year.
The first four hires, made earlier this year, are Anchorage Advisors, Davidson Kempner Capital Management, Oz Management and Paulson & Co., HFMWeek reports.
The pension is focusing on single-manager hedge funds, although Houston told HFM last year that it may hire some non-hedge fund multi-strategy managers. Houston last year voted to quintuple its hedge fund investments, with plans to hire between a dozen and 15 managers during the first three quarters of 2011.
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…