Tuesday, 23 September 2014
Last updated 7 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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.