Teachers' Union Watch List Includes AQR, Elliott, SAC, Tudor

Apr 19 2013 | 1:22pm ET

Having harried Third Point's Daniel Loeb from a scheduled appearance at an institutional investors conference, the American Federation of Teachers is broadening its focus.

The teachers' union yesterday released a list of 33 investment managers with directors, managers, advisers or executives linked to three organizations the AFT says seeks to end defined-benefit pension plans for teachers and other public employees.

In addition to Third Point, the watch list includes such heavy hitters as Appaloosa Management, AQR Capital Management, Elliott Management, Icahn Enterprises, Kohlberg Kravis Roberts, SAC Capital Advisors, Tiger Global Management and Tudor Investment Corp.

The three organizations cited as opposed to defined-benefit plans are the Manhattan Institute, the Show-Me Institute and StudentsFirst.

"The retirement security of working families is under attack as never before," the AFT wrote. "Public sector defined benefit plans have repeatedly been attacked by right-wing think tanks and political committees. While much of the money flowing to these organizations remains unreported, many of the organizations attacking defined benefit plans are funded by hedge fund and private equity managers, some of whom solicit investments from public sector pension plans. These fund managers are all too eager to seek investments from the deferred wages of teachers, firefighters and other public servants, while simultaneously attacking their economic interests."

The AFT promised to continue to update the watch list, and offered pensions advice on how to exclude such managers without violating their fiduciary duties.

Other firms making the AFT's watch list were Anthos Capital, Browfields Capital, Clayton Capital Partners, Cohen Kilngenstein, Court Square Capital Partners, Dimensional Fund Advisors, Donald Smith & Co., Eagle Capital Management, Gilder Gagnon Howe & Co., HPB Associates, Invemed Associates, J. Fitzgibbons, K2 Advisors, Khronos, Kiernan Ventures, Kingdon Capital Management, Mason Capital Management, Pennant Capital, Pergamon Advisors, Prescott Advisors, SLX Capital Management, Stone-Kaplan Investments and VenRock.


In Depth

Q&A: Jeff Eaton Talks Capital Raising, CalPERS And The Secondaries Market

Oct 14 2014 | 10:16am ET

Global placement agent Eaton Partners has raised close to $60 billion for some of...

Lifestyle

MacDonald-Korth Offers Insights Into Paintings Bought, Sold By Hedgies

Oct 7 2014 | 9:00am ET

Definitive and complete ratings require an in-person examination of an artwork,...

Guest Contributor

PAAMCO: European Equity Exposure - Challenging Year, But All is Not Lost

Oct 16 2014 | 4:12am ET

European equity hedge fund managers have had a tough time so far this year. The...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    Sep 30 2014 | 9:29am ET

    The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…

 

Futures Magazine

October 2014 Cover

Deeply flawed risk benchmark

Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.