Monday, 22 September 2014
Last updated 5 hours ago
Nov 29 2012 | 11:42am ET
The Chicago Public School Teachers' Pension and Retirement Fund has gone through with a plan to slash its hedge fund allocation.
The $9.7 billion pension terminated the two funds of hedge funds with the largest mandates, K2 Advisors and Mesirow Advanced Strategies, Pensions & Investments reports. The two firms managed a combined $149.2 million.
Teachers' is still mulling the future of Pluscious Management, which runs $25.3 million for the pension. Prior to presentations by K2 and Mesirow last week, pension executive director Kevin Huber said that Pluscious "has a different liquidity profile and therefore is not presenting tomorrow."
Teachers' did not specify what it would do with the proceeds of the redemptions. But Huber said prior to the firings that the move was being made "in order to assist with cash needs" and cited liquidity concerns with K2 and Mesirow.
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.