Tuesday, 27 January 2015
Last updated 10 min ago
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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…