Monday, 26 January 2015
Last updated 57 min 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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…