Tuesday, 22 July 2014
Last updated 8 hours ago
Jun 23 2006 | 9:01pm ET
The $500 million Knoxville (Tenn.) City Employees Pension Fund has selected Union Bancaire Privee Asset Management and Cadogan Management as its new fund-of-hedge funds managers. Michael Cherry, executive director, said the two firms will handle a combined $35 million mandate but the plan has not decided on the split between the two firms. Funding will come from a rebalancing of the fund and no managers will be terminated, he added.
The plan had discussed investing in hedge funds last year after the City Council approved a new investment policy to include alternatives. The fund is still in early discussions about a private equity search. Cherry said the fund hasn't decided whether it will invest directly or through a fund-of-funds but has a target allocation of 4%. Interested managers should contact consultant Dan Holmes of Summit Strategies Group.
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…