Monday, 30 March 2015
Last updated 2 days ago
Apr 4 2012 | 2:25am ET
It's official: Massachusetts' public pension funds are moving most of their hedge fund investments out of funds of hedge funds.
The Massachusetts Pension Reserves Investment Management Board yesterday voted to move some $2.7 billion from funds of funds to its direct hedge fund investment program. When the redemptions and hirings are over, by July of next year, the $50 billion system will have $4.2 billion invested directly with hedge funds and just $750 million invested in a single fund of funds, Pacific Alternative Asset Management Co.
The others, Arden Asset Management, Grosvenor Capital Management, K2 Advisors and Rock Creek Group will all be terminated.
Separately, MassPRIM's board approved a $140 million mandate to Wasatch Advisors and $60 million to Acadian Asset Management.
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…