Monday, 27 April 2015
Last updated 1 min ago
Dec 20 2011 | 12:01pm ET
While many institutional investors are dropping funds of hedge funds in favor of direct hedge fund investing, the Vermont Pension Investment Council is going the other way.
The $3 billion public pension has decided to end its "shadow portfolio" of single-strategy managers, HFMWeek reports. Instead, it may pepper its existing fund of funds portfolio with direct investments, although the timeline for doing so "remains uncertain," chairman Stephen Rauh said.
Vermont never actually invested in single-strategy funds, and instead simply monitored several in an effort to educate itself about such investments. But, Rauh said, "the shadow portfolio did not prove to be a particularly effective education tool."
Instead, the VIPC will be "looking more closely at specific strategies," he told HFM.
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…