Friday, 30 September 2016
Last updated 4 hours ago
Aug 30 2012 | 3:42am ET
The San Antonio Fire & Police Pension Fund is making its most recent hedge fund buy go a long way.
The Texas pension, which has been reducing and remaking its hedge fund portfolio, has spread $50 million across five hedge funds. Each of the funds received $10 million from the $2.2 billion plan.
The lucky hedge funds are Brevan Howard Asset Management, DaVinci Reinsurance, Indus Capital Partners, Pacific Alliance Investment Management and Pine River Capital Management. San Antonio's allocations went to Pacific Alliance's Asia fund and Pine River's multi-strategy relative value fund.
The five new hires aren't the only hedge funds in line for some of San Antonio's money, Pensions & Investments reports. AQR Capital Management is one of three finalists for the pension's risk-party search.
Consultant Albourne Partners assisted with the hedge fund search.