Tuesday, 31 March 2015
Last updated 6 hours ago
Mar 2 2009 | 10:56am ET
The Universities Superannuation Scheme, the second-largest British pension fund, has made a hire for its planned move into hedge funds. The £23 billion (US$32.9 billion) plan named Emily Porter portfolio manager for the Absolute Return Strategies program, reporting to Mike Powell, head of alternative assets at USS.
Porter previously worked at Key Asset Management, where she worked as an investment director focusing on event-driven and distressed hedge fund research, as well as managing multi-strategy fund of funds portfolios. Prior to joining Key, Porter worked for Asset Alliance as a hedge fund senior analyst, and ABN AMRO Asset Management as a hedge fund analyst.
USS currently has around 10% invested in alternatives and is targeting a 20% allocation over the medium term. Since launching the program in 2006, USS has invested around £2 billion (US$2.9 billion) into alternative assets, principally in private equity and infrastructure investments. The Absolute Return Strategies program, which will invest in hedge funds, is expected to represent around a quarter of the total alternatives allocation.
“We believe that the current turmoil in the hedge fund industry represents a compelling investment opportunity for investors like USS who are able to take the long-term view,” said Powell. “The Absolute Return Strategies program will form a core part of our strategy for alternatives assets”
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…