Sunday, 2 August 2015
Last updated 1 day ago
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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…