Wednesday, 7 October 2015
Last updated 21 hours ago
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.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…