Sunday, 28 December 2014
Last updated 3 days ago
Jun 3 2008 | 10:47am ET
The $3.4 billion Fire & Police Pension Association of Colorado has hired GAM to manage a $57 million low volatility mandate, replacing Fairfield Greenwich Group, which was terminated due to performance and organizational reasons.
The plan is investing in GAM’s MultiDiversified LV, which launched in January. Half of Multi-Diversified’s portfolio is weighted towards arbitrage strategies and the balance is split between equity hedge and trading stratregies. The plan’s other fund-of-funds manager is Gottex Fund Management, which handles $110 million.
Colorado, which uses funds of hedge funds in its portable alpha program, could add a third fund of hedge funds shop to the mix now that Fairfield is out of the picture, according to a source familiar with the plan’s funding. The plan has another $75 million to allocate to its existing and/or new fund of hedge funds shops.
The plan is also investigating the direct hedge fund route but the source said it is not jumping into single-strategy hedge funds anytime soon because it does not have the manpower to monitor underlying managers.
Currently, 5% of the plans’ total portfolio is dedicated to its portable alpha program. Pension Consulting Alliance is its consultant.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.