Friday, 22 May 2015
Last updated 9 hours ago
Jun 5 2012 | 12:08pm ET
Arkansas' main public pension fund is set to jump into hedge funds for the first time.
The $4.7 billion Arkansas Public Employees Retirement System, heretofore extremely reluctant to move into the hedge fund space, voted in April to hire a fund of hedge funds, HFMWeek reports. The pension is now searching for a manager to handle a $100 million mandate.
The change of heart follows a February board meeting, at which APERS' executive director and Grosvenor Capital Management sought to demonstrate the value of hedge funds to the pension's portfolio.
Hedge funds "could mitigate much of the volatility currently found in the APERS portfolio without adding any risk," executive director Gail Stone said.
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…