Wednesday, 3 September 2014
Last updated 14 hours ago
Aug 14 2012 | 12:22pm ET
The Los Angeles County Employees Retirement Association will increase its alternative investments allocation by more than half.
The $38.6 billion pension has boosted its private equity allocation to 11% from 7% and its hedge fund allocation by threefold, from 1% to 3%, Pensions & Investments reports. The new alternatives money comes from cuts to LACERA's global equity and fixed-income portfolios.
The new private equity target merely reflects the reality of LACERA's portfolio, which already has 10.3% of its assets invested in the space. But it could prove a billion-dollar boon for hedge funds: LACERA currently has only 0.7% of its money in the asset class.
In addition, LACERA awarded mandates to private equity fund Lightyear Capital and real-estate fund Europa Capital. The former got up to $105 million and the latter €50 million.
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…
The twin debacles of MF Global and PFG have damaged the reputation of the futures industry demanding an examination of customer protection rules. New rules are being implemented, which will add cost a...