Missouri to Invest Directly In Hedge Funds

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.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of