South Carolina Invests $750 Million With GAM

Nov 15 2007 | 11:26am ET

GAM, the $26.8 billion fund of hedge fund manager, has been hired by South Carolina Retirement System to manage a $750 million allocation to its GAM Diversity strategy.

Diversity is a $10 billion globally diversified, multi-strategy fund of hedge funds that includes between 60 to 80 underlying managers. The portfolio is split between equity and arbitrage strategies.

“South Carolina has made a fairly large entry into reallocating their assets so for the first time they’re beginning to work extensively with outside managers,” said Joe Gieger, a managing director at GAM.

South Carolina’s portfolio has undergone drastic changes since legislation was passed last year allowing the system to invest in alternatives. The system has allocated 30% of its $30 billion to alternatives, with 15% of assets going toward portable alpha strategies, 5% to private equity, 5% to real estate and 5% to global asset allocation strategies.

The system has reportedly hired about a dozen absolute-return managers, allocating some $4.5 billion to hedge funds of funds and multi-strategy hedge fund strategies, with another $1.5 billion split among four managers in directional hedge fund strategies.


In Depth

Q&A: Quad Advisors’ Borish Is Looking For Real Traders, Not Index Huggers

Aug 20 2014 | 1:43pm ET

Peter Borish, who served as founding partner and director of research at Tudor Investment...

Lifestyle

Viking Manager In Rent Dispute

Aug 11 2014 | 4:14am ET

A hedge fund manager is demanding most of his money back from his former landlord...

Guest Contributor

Majority Of Inflows Go To Brand Name Hedge Funds

Aug 12 2014 | 9:00am ET

Since the market correction of 2008, a vast majority of hedge fund net asset flows...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.

The Alpha Pages

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note