Illinois Pension Boosts Hedge Allocation, Cans Two, Adds To Three

Oct 28 2013 | 9:45am ET

The Illinois State Board of Investments is pouring more of its money into hedge funds—but that hasn't helped two of its now-former managers.

The $13.4 billion public pension fund increased its hedge-fund allocation to 10%, Pensions & Investments reports. At the same time, it's parted ways with two hedge funds due to performance issues.

ISBI terminated Credo Capital Management and IronBridge Capital Management, according to P&I. The two firms managed more than $150 million for the pension.

That money was turned over to three funds of hedge funds, Entrust Partners, Mesirow Advanced Strategies and Rock Creek Group. Entrust's allocation rose from $411 million to $502 million, Rock Creek's from $425 million to $502 million and Mesirow's from $271 million to $335 million.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

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

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR