Tenn. Fund Selects First Hedge Fund; Private Equity Up Next

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. 


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The healthcare sector went on a tear beginning in 2011, thanks in large part to the passage of the Affordable Care Act and its impending implementat