Sunday, 21 September 2014
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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.