MassPRIM Hires Three Portable Alpha Managers

Aug 20 2008 | 9:08am ET

The Massachusetts Pension Reserves Investment Management Board has made $540 million in allocations to three portable alpha fund of hedge funds managers as part of a strategic shift.

The plan hired Blackstone Alternative Asset Management to run $200 million, and allocated $170 million each to Austin Capital and EIM. The new portable alpha money comes from its domestic equity program.

MassPRIM fired five domestic equity managers, which had run $1.8 billion for the pension, earlier this month. It also terminated Bridgewater Associates, which had managed a $591 million global inflation-linked bond portfolio. MassPRIM denied two Bridgewater requests, one to adopt a pure alpha strategy for the portfolio, and another to wind down the portfolio over a 12-month period.


In Depth

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Cash: An Asset In Adolescence

Aug 31 2017 | 3:34pm ET

If the investment industry has a rebellious teenager in the house today, that teenager...