Friday, 25 July 2014
Last updated 1 hour ago
Jul 8 2011 | 11:25am ET
South Carolina's main public pension plan has boosted its commitments to two hedge fund managers by a total of $550 million.
The $26 billion South Carolina Retirement System Investment Commission has doubled its allocation to Avenue Capital Management, Pensions & Investments reports. The New York-based hedge fund will now manage $500 million for the pension.
In addition, South Carolina combined two existing commitments to D.E. Shaw Group that totaled $450 million and added another $300 million.
The pension has also extended the term of its investment consultant by one year; NEPC's contract will now expire at the end of June 2012. Chief Operating Officer Robert Feinstein said that South Carolina is still mulling whether to issue a request for proposals for a new consultant.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…