L.A. Pension Doubles Down On Grosvenor

Dec 14 2012 | 10:44am ET

The Los Angeles County Employees' Retirement Association has nearly doubled its investment with fund of hedge funds Grosvenor Capital Management.

Grosvenor set up a customized portfolio for the $39.8 billion pension fund a year ago, to which LACERA initially committed $250 million. Now, the pension has added $200 million to that fund of funds, Pensions & Investments reports.

The move comes as LACERA considers whether to hire additional funds of hedge funds as it seeks to reach a 3% hedge fund allocation target. The pension currently invests just 0.7% of its assets with hedge funds.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...