Thursday, 25 December 2014
Last updated 23 hours ago
Oct 17 2013 | 1:55pm ET
North Carolina's main public pension fund is set to take advantage of a new law allowing it to pour billions more into alternative investments.
The August law allows the North Carolina Retirement System to invest up to 35% of its $80 billion in assets in alternatives. And the pension is preparing to nearly double its current hedge fund investments, Hedge Fund Alert reports.
North Carolina currently has a 2.9% hedge-fund allocation and plans to increase that by a further 2.5%, some $2 billion. The system is already in talks with potential managers, with requests for proposals expected by year-end.
It is unclear which strategies the pension will seek out, according to HFA. "They're doing some initial due diligence to know the market, to decide how to put it out," a source said.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
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