Friday, 28 November 2014
Last updated 1 day 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.”
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...