San Diego County Terminates Numeric Investors, Makes P.E. Hires

Mar 24 2006 | 12:00am ET

The $7 billion San Diego County Employees Retirement Association has terminated Numeric Investors from an $80 million quantitative long/short market control portfolio.

David Deutsch, cio, said the firm was terminated for people, process and performance issues and had been monitored for the past year after there was personnel turnover in the portfolio’s management team. He said the plan will hire a firm from the group of finalists that were involved in a search about a year ago, though he said he was not prepared to discuss the firms at this time.

Also, the plan moved approximately $30 million of a $90 million allocation to Freeman Associates from its long/short market neutral fund to its fair value fund as a means of diversification. Deutsch said the fair value fund has a low correlation to the long/short market neutral fund and will add alpha to the portfolio.

The plan also invested $9 million in Bain Capital Fund IX and $3 million in the Bain Capital IX Co-Investment Fund, as well as $13 million in TA Associates X and $8 million in the Related TA Subordinated Debt Fund II.


In Depth

Q&A: Quad Advisors’ Borish Is Looking For Real Traders, Not Index Huggers

Aug 20 2014 | 1:43pm ET

Peter Borish, who served as founding partner and director of research at Tudor Investment...

Lifestyle

Viking Manager In Rent Dispute

Aug 11 2014 | 4:14am ET

A hedge fund manager is demanding most of his money back from his former landlord...

Guest Contributor

Majority Of Inflows Go To Brand Name Hedge Funds

Aug 12 2014 | 9:00am ET

Since the market correction of 2008, a vast majority of hedge fund net asset flows...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.

The Alpha Pages

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note