Monday, 25 May 2015
Last updated 2 days ago
Nov 1 2011 | 9:09am ET
Illinois' teachers are boosting their hedge fund investments, both now and for the future.
The $37.5 billion Illinois Teachers' Retirement System approved follow-on allocations totaling $450 million to three existing hedge fund managers and a $15 million investment in a commodity hedge fund launched by a Tudor Investment Corp. veteran. The pension's board also approved searches for as many as six more hedge funds and transition managers, with two to three new hires expected in each of the next two years.
The biggest beneficiaries of TRS' largesse are BlueMountain Capital Management, Claren Road Asset Management and Carlson Capital, each of which received an extra $150 million from the public pension. In addition, as part of its emerging managers program, TRS invested $15 million with Flintlock Commodity Opportunity Partners, founded two years ago by former Tudor commodities research chief Steve Matthews.
TRS also poured $260 million into its private equity portfolio, handing a $200 million mandate to Leonard Green & Partners and $30 million each to Longitude Capital Management and TrustBridge Partners.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…