Friday, 31 July 2015
Last updated 10 hours ago
Jan 13 2006 | 8:20pm ET
The $27 billion Missouri Public School & Education Retirement System has selected Albourne Partners to assist in placing $600 million with hedge fund managers.
David Harmston, head of Albourne's U.S. client services division, said his firm only makes direct investments with hedge funds, not fund-of-funds.
"People tend to approach us once they have already had some exposure to hedge funds, generally through a fund-of-funds, and they are looking for help to work on a direct portfolio of hedge funds," said Harmston. However, this is the retirement system's first foray into alternatives.
Currently, Albourne's clients have $50 billion invested in hedge funds. Calls to the Missouri retirement system were not returned by press time.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…