Saturday, 28 March 2015
Last updated 15 hours ago
Mar 21 2012 | 12:26pm ET
West Virginia's chief public investment manager has hired another hedge fund, its fourth in the last six months.
The $12.9 billion West Virginia Investment Management Board has awarded a $45 million mandate to San Francisco-based Partner Fund Management. The firm's Diversified Offshore Fund should offer "risk-adjusted capital appreciation" through "strategies with a primary focus on liquid equity markets," HFMWeek reports.
While the fund invests in liquid securities, West Virginia's investment won't be for about three years: The board has agreed to an 85% lockup expiring in January 2015.
The hire of Partner follows the additions late last year of Graham Capital Management, Pershing Square Capital Management and AQR Capital Management. All told, West Virginia has about $1.56 billion invested in 26 hedge funds.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…