Saturday, 30 August 2014
Last updated 22 hours ago
Dec 19 2012 | 10:26am ET
Three New York City pension funds are looking to event-driven hedge funds to help them reduce volatility in their portfolios.
The three pensions, which invest on behalf of the city's employees, police officers and firefighters, could invest in as many as 15 hedge funds, primarily event-driven strategies. Seema Hingorani, the head of public equities and hedge funds for New York City, said the three pensions have most of their hedge fund assets in global macro funds and commodity trading advisers, and it will consider some similar funds for the new allocations.
Long/short equity hedge funds will not be favored.
The three funds have about $70 billion between them. They have about $1.8 billion of their $3.5 billion hedge fund target left to spend, after investing in Permal Asset Management, BlueCrest Capital Management, Brevan Howard Asset Management, Brigade Capital Management, Caspian Capital Advisors and D.E. Shaw & Co. last year and early this year.
Most consideration for the allocations, which will range from $100 million to $350 million, will go to hedge funds with more than $1 billion in assets. Some attention will be paid to emerging managers. All potential mandate-winners will have to face three approval processes, one for each pension fund.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...