Friday, 29 August 2014
Last updated 12 hours ago
Jul 25 2008 | 5:12am ET
The $3 billion San Jose (Calif.) Police & Fire Department Retirement Plan is taking the plunge into alternatives and will begin searching for hedge fund and private equity managers within the next few months. The plan’s investment committee met earlier this month to hash out its allocation to hedge funds and private equity funds.
According to Ron Kumar, financial analyst, the plan, which has a 5% allocation to absolute return strategies, will invest in core (multi-strategy and fund of funds) and satellite (direct investment) managers. The plan is also utilizing core and satellite positions in its p.e. portfolio, allocating $30 million each both mezzanine and distressed p.e. funds.
“Alternatives is a good way to mitigate volatility,” said Kumar. “Just look at what’s been happening in the last six months.”
The plan’s consultant, NEPC, will be submitting potential managers to the plan’s board in the next few months.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...