Houston Pension Adds Wexford, York

Aug 18 2011 | 2:25am ET

Two steps down, one to go: The Houston Municipal Employees’ Pension System has hired two more hedge fund managers for its new absolute return program.

The $2.1 billion public pension picked Wexford Capital and York Capital Management in the second stage of the program, HFMWeek reports. The latter received a $10 million allocation to its multi-strategy Spectrum Fund, and the latter a $5 million allocation to its flagship event-driven strategy.

The hires follow that of Anchorage Advisors, Davidson Kempner Capital Management, Ox Management and Paulson & Co. earlier this year. HMEP plans to complete it’s three-stage plan this quarter and will begin searching for managers.

The pension now has some $69 million invested in hedge funds, up from just $20 million last year. HMEP hopes to have $100 million invested by the end of the third quarter in between 12 and 15 managers.


In Depth

Creating An Offshore Hedge Fund Dream Team: The Seven Key Players

Jun 26 2015 | 6:47am ET

If you want to set up an offshore hedge fund, like any great team, you’re only...

Lifestyle

Hedgies Set to Compete in Wall Street Decathlon

Jun 8 2015 | 12:37am ET

The Wall Street Decathlon — a 10-event physical challenge that will crown “Wall...

Guest Contributor

6 Essential Principles To Balance Your Investment Risk

Jun 26 2015 | 10:07am ET

In this article, financial expert Greg Silberman explores how to hedge a private...

 

Editor's Note