Tuesday, 23 September 2014
Last updated 13 hours ago
Jul 28 2011 | 9:50am ET
The North Carolina Retirement System has retained California-based fund of hedge funds Pacific Alternative Assets Management Co.
HFMWeek, citing recently published meeting minutes, says the $85 million pension has hired the firm to increase its allocation to credit hedge funds.
PAAMCo, with $9.8 billion AUM, was the subject of a Securities and Exchange Commission probe into its relationship with Paloma Partners’ Donald Sussman. The probe, which followed an October court ruling granting Sussman a 40% stake in PAAMCo, considered whether PAAMCo was misleading investors by selling itself as a women-owned firm. It concluded in April 2011 without charges.
During the same February meeting, the NCRS also decided to redeem its investment with the hedge fund firm SCS Global, and to partially redeem its investment with Franklin Street. According to the minutes, the move was “a means of bringing the alternatives portfolio into compliance with the 5% statutory cap.”
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.