Wednesday, 23 July 2014
Last updated 9 hours ago
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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…