Ill. Teachers To Seek At Least Two New Hedge Funds

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.


In Depth

Star Fund Managers Battered By Rocky Ride In Yields, Currencies

May 28 2015 | 6:05am ET

Some of the biggest names in the investment world have been whipsawed by the recent...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

The Road To Tax Alpha

May 28 2015 | 5:36am ET

Tax-related alerts are increasingly helping investment managers harvest tax alpha...

 

Sponsored Content

Editor's Note