Thursday, 26 March 2015
Last updated 1 hour ago
May 20 2008 | 9:40am ET
The $11 billion Chicago Public School Teachers Pension & Retirement Fund is making its first foray into hedge funds, via funds of hedge funds.
The fund is looking to commit $300 million to fund of hedge funds managers based on recommendations by its consultant, Mercer. A source familiar with the search said Mercer is presenting a list of multi-strategy fund of hedge funds shops to the pension fund next month.
“This is more for diversification than anything else because it brings down the overall risk profile of the plan,” said the source.
Mercer last month gave a presentation covering currency management, 130/30 strategies, portable alpha and hedge fund investments as part of the plan’s “first Friday” meetings on hedge funds and other investment opportunities. The plan also heard presentations from Silver Creek Capital, a $9 billion fund of hedge funds manager that invests in and hedges their bets in a diversified portfolio of hedge fund managers.
The plan also heard presentations from Credit Suisse about private equity funds of funds, and Advanced Equities, a p.e. agent that arranges for pension funds to provide later stage equity to venture capital firms.
The source also mentioned that the plan, which currently commits some $239 million to p.e., is looking to allocate directly to p.e. shops.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…