Tuesday, 1 December 2015
Last updated 11 hours 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…