Wednesday, 29 June 2016
Last updated 1 hour ago
Jun 15 2007 | 10:43am ET
The $3.4 billion Detroit General Retirement System has allocated a total of $30 million to three hedge fund managers. The system awarded Guidance Capital, Entrust Capital and RLJ Asset Management $10 million each.
The three new mandates give Detroit more exposure to debt (Guidance), equities (Entrust) and other hedge funds (RLJ). The system currently has 5% of its assets in alternative investments.