Alameda Pension Picks Permal For First Hedge Fund Mandate

Jan 5 2012 | 12:48pm ET

California's public pensions are among the pioneers and leaders in hedge fund investing. But one Northern California system is only getting into the asset class now.

The Alameda County Employees' Retirement Association has made its first hedge fund hire, handing Permal Asset Management a $100 million mandate, HFMWeek reports. The money will go into a fixed-income holdings fund of hedge fund and is the first part of the $5 billion pension's $250 million alternative investments plan; the remaining money will go into private equity.

Permal beat out BlackRock Alternative Advisors and Magnitude Capital for the pension's business.

In Depth

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…