Saturday, 18 April 2015
Last updated 11 hours ago
Aug 29 2014 | 7:21am ET
The Illinois Teachers’ Retirement System is poised to make up to $600 million in new hedge-fund investments over the next 10 months.
The $45.3 billion pension’s trustees this week approved a tactical investment plan for its hedge-fund portfolio, essentially reallocating the $532 million it is redeeming from fund of hedge funds K2 Advisors. In its place, TRS plans to hire two or three hedge funds, each handling between $150 million and $200 million.
The pension is looking for non-directional strategies. The timing of the search was not specified.
TRS last year became the latest public pension fund to quit funds of funds in favor of direct investments with hedge funds. In December, it selected its other fund of funds manager, Grosvenor Capital Management, over K2 to oversee the transition.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…