Thursday, 7 May 2015
Last updated 11 hours ago
Mar 30 2012 | 12:20pm ET
The Ohio Public Employees Retirement System has begun to deploy the $3 billion it plans to invest in hedge funds this year.
The $76 billion public pension fund added Ascend Capital Partners and Canyon Capital Partners to its hedge fund portfolio, the former receiving $80 million and the latter $90 million. The hirings follow those of Winton Capital Management and BlueCrest Capital Management in January, with those funds splitting $125 million.
OPERS aims to add $3 billion to its hedge fund portfolio by the end of the year, having doubled its target allocation to the sector to 6% in January. Consultant Cliffwater Associates is conducting due diligence on several other hedge funds which could be hired over the next several months, HFMWeek reports.
Indeed, the first four new hires could be just the appetizer for OPERS: The plan could award mandates of as much as $400 million to individual funds of hedge funds and $200 million per direct investment.
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…