Wednesday, 2 September 2015
Last updated 13 hours ago
Feb 3 2012 | 12:21am ET
A pair of Chicago pension funds have jumped into hedge funds, hiring three funds of hedge funds to run some 9% of their assets.
The Cook County Retirement Board picked Blackstone Alternative Asset Management, Diversified Global Asset Management and Rock Creek Group to serve as the first hedge fund managers for the two Cook County Annuity & Benefit Fund plans.
Blackstone is the biggest beneficiary, getting about $500 million of the $692 million allocations from the Employees' and Officers' Annuity & Benefit Fund and Forest Preserve District Employees' Annuity & Benefit Fund, including the Forest fund's entire allocation. The other two funds of funds will manage satellite portfolios.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…