Illinois Seeks More Hedge Strategies, May Seek New Fund Of Funds

Jun 28 2013 | 9:29am ET

The Illinois State Board of Investment aims to broaden its hedge-fund portfolio, and may hire a fourth fund of hedge funds to do it.

The $12.9 billion public pension manager plans to ease restrictions on its $1.1 billion in hedge fund strategies. The move would allow ISBI's managers to add global macro and credit strategies to what are currently primarily long/short equity strategies.

Among the options under considering are a search for a new fund of funds to add that exposure, Pensions & Investments reports. ISBI could also give some or all of its existing funds of funds—Entrust Partners, Mesirow Advanced Strategies and Rock Creek Group—more freedom in how they deploy its money.

If a fourth fund of funds is added, the allocations to the current three managers will be reduced, but none will be terminated, ISBI executive director William Atwood told P&I. A search would commence later this year.


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR