Tuesday, 23 September 2014
Last updated 55 min ago
Aug 11 2011 | 12:10pm ET
A Bay Area public pension has hired AQR Capital Management as the first manager in its new hedge fund portfolio.
The San Mateo County Employees' Retirement Association picked AQR's Delta Fund II after an exhaustive process during which the pension's board considered five different strategies and employed the assistance of both a consultant—Strategic Investment Solutions—and a hedge fund—Aetos Capital Management, which was employed to teach the $2.3 billion system's board and staff about funds of hedge funds.
Aetos was also considered for the mandate, HFMWeek reports.
Strategic Investment and the pension's board settled on a beta strategy, rejected index replication, multi-strategy and direct investments. San Mateo said it may revist the latter two at a later date.
San Mateo plans eventually to allocate 3% of its assets to hedge funds.
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.