Friday, 9 October 2015
Last updated 10 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.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…