Sunday, 1 February 2015
Last updated 1 day ago
Sep 11 2008 | 1:00pm ET
At least one pension fund investor just can’t get enough of credit-focused hedge funds. The $6 billion San Bernardino County (Calif.) Employees Retirement Association recently committed $150 million to credit-focused hedge funds.
San Bernardino this week committed $30 million apiece to Declaration Management & Research’s DMR Mortgage Opportunity Strategy, Stone Tower Capital’s Structured Credit Recovery Fund and York Capital Management on their York Credit Opportunities Fund.
Last month, the plan’s consultants, NEPC, and staff recommended an allocation of $30 million to the MKP Credit Fund and $30 million to Mariner Tricadia Credit Strategies Fund.
On the private equity front, the plan’s chief investment officer, Timothy Barrett, said that he has been approached by well-established firms to invest directly in companies through co-investments. He said that direct company investments, while potentially an avenue for increased returns, requires a disproportionate amount of resources for the potential value-added.
The plan currently has a 15% exposure to private equity and 7% to hedge funds.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…