Thursday, 31 July 2014
Last updated 53 min ago
Apr 1 2013 | 9:37am ET
The Oklahoma Police Pension & Retirement System has added one hedge fund and is poised to add another.
The $1.9 billion public pension fund has invested $7.5 million in White Elm Capital, a long/short equity fund. White Elm was recommended by Grosvenor Capital Management and Asset Consulting Group, Pensions & Investments reports.
And OPPRS is set to invest another $7.5 million in another long/short equity hedge fund, this one managed by Southpoint Capital Advisors. The pension's board will vote on April 17 on the Southpoint mandate.
Both the White Elm and Southpoint investments are funded by the pension's redemption from fund of funds Attalus Capital, part of a move into direct hedge fund investing begun last year. OPPRS has already invested $38.5 million in AKO Capital, Cevian Capital, Hoplight Capital Management, Tremblant Capital Group and Trian Partners.
Grosvenor both manages a $150 million fund of funds mandate for the pension fund and handles back-office and due-diligence matters for its direct portfolio.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…