Colorado Fire & Police Ups Portable Alpha; More To Come?

Jun 1 2007 | 11:22am ET

The Colorado Fire & Police Pension Association is boosting its portable alpha allocation by 20%, and may add more next month.

At its May 23 meeting, the $3.4 billion fund’s board approved an additional $30 million allocation to the program—which was $145 million before the board’s decision to increase it last week—and awarded it to Gottex Fund Management, which already runs a $60 million portable alpha mandate for the pension.

CEO and Chief Investment Officer Bill Morris added that the fund’s board tabled further discussion and will consider boosting the allocation even further in July. At the time, should the board add to the portable alpha portfolio, it may consider adding a third fund of funds manager—in addition to Gottex and Fairfield Greenwich Group, which manages some $56 million for the fund—to its stable.

Morris said that the new portable alpha money will come from a Russell 1000 Index fund investment, and that the pension would make the investment when the Gottex fund reopens at the beginning of July.


In Depth

Dillon Eustace: The Advantages of ICAVs

Feb 11 2016 | 7:51pm ET

As the growth of alternative investment vehicles continues, global asset managers...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...