Investment Management Weekly articles from April 2009

Investment Management Weekly archives from April 2009

IPERS Recoups Some Westridge Losses.(News)
April 6, 2009... Byline: Editorial Staff The $16.9 billion Iowa Public Employees' Retirement System has recovered $35 million from its $500 million investment with the beleaguered Westridge Capital Management, the Des Moines Register has reported. ...

GMO's Eston Retires.(News)
April 6, 2009... Byline: Editorial Staff Grantham, Mayo, Van Otterloo's (GMO) chief operating officer, Scott Eston, has reportedly retired after spending 12 years with the firm. Eston has been considering retirement, but wasn't comfortable taking that...

Guggenheim Capital Markets Expands Fixed-Income Trading Team.(News)
April 6, 2009... Byline: Editorial Staff, StructuredFinanceNews.com Guggenheim Capital Markets (GCM), a subsidiary of Guggenheim Partners, expanded its U.S. fixed-income rates trading group and appointed Thomas di Galoma and three members of his team from...

UVa. Drops $100M More in February.(News)
April 6, 2009... Byline: Editorial Staff The endowment for the University of Virginia (UVa.) has reported a roughly $100 million loss for the month of February. The fund has dipped from $5.1 billion to $3.76 billion in the past eight months, equaling a...

Ohio SERS Adds to Manager Roster.(News)
April 6, 2009... Byline: Marc Sorondo Manning & Napier Advisors, Neuberger Berman Group and Oaktree Capital Management have been added to the manager roster at the School Employees' Retirement System of Ohio (SERS). Tim Barbour, spokesman for the $7.9...

CalSTRS Re-Elects Two to Board.(News)
April 6, 2009... Byline: Editorial Staff The $113 billion California State Teachers' Retirement System (CalSTRS) has reelected Dana Dillon as chair of the plan's 12-member board. Dillon has served on the CalSTRS board since 2004, including a stint as...

Town of Fairfield Replaces NEPC.(News)
April 6, 2009... Byline: Editorial Staff The Town of Fairfield joint pension board has tapped Evaluation Associates to assist with its investment decisions. In January, the Connecticut town terminated its contract with consultant NEPC based on advice...

Mercer and Callan Call Off Union.(News)
April 6, 2009... Byline: Editorial Staff Mercer and Callan Associates announced today that a previously agreed upon decision to merge their operations has been terminated. Last month, the two firms announced that Mercer would acquire Callan in a...

Illinois Pension Boards Could See Shakeup.(News)
April 6, 2009... Byline: Editorial Staff A proposal being pitched by Illinois Democrats could find the boards of the state's four largest retirement systems revamped. The Chicago Sun Times is reporting that a vote will take place on the plan today. ...

Monroe County Cuts Brandywine.(News)
April 6, 2009... Byline: Jakema Lewis The $143 million Monroe County Employees Retirement System has removed Brandywine Global Fixed Income from its manager roster, confirmed Debra Elmore, retirement specialist, via e-mail. The minutes of a February 23...

Shaky Markets Change Research Needs.(News)
April 6, 2009... Byline: Jakema Lewis Turbulence in the financial world has resulted not only in lackluster returns, but also in the way firms are going about gathering research, contends David Eisner, CEO and founder of TheMarkets.com. TheMarkets.com...

OppenheimerFunds Make Structural Changes.(News)
April 6, 2009... Byline: Editorial Staff OppenheimerFunds has announced that it is making changes intended to strengthen its business operations and enhance risk management capabilities. According to a statement on the firm's Web site, the changes...

Mass. Plan Puts Out APB for Core Bonds.(News)
April 6, 2009... Byline: Marc Sorondo The Danvers Retirement System has launched a search for a firm to oversee a core fixed-income portfolio. The RFP issued for the search notes that the selected firm would be awarded $14 million. The mandate will be...

Iowa PERS Approves Portable Alpha Changes.(News)
April 6, 2009... Byline: Marc Sorondo The Iowa Public Employees' Retirement System (IPERS) has approved suggestions made by consultant Wilshire Associates regarding changes to its portable alpha strategy, said B>Karl Koch, CIO with the $16.9 billion plan....

Oakland Muni. To Issue Fixed-Income RFI.(News)
April 6, 2009... Byline: Jakema Lewis The $5 million Oakland Municipal Employees' Retirement System has instructed Pension Consulting Alliance (PCA) to issue a bond RFI, placing a portion of a Western Asset Management Company (WAMCO)-run portfolio up for...

Odds & Ends - March 3, 2009.(News)
April 13, 2009... Byline: Editorial Staff *Goldman Sachs Asset Management (GSAM) will be making some changes in the next month. Mark Carhart and Ray Iwanowski, managing directors and co-heads of the firm's Quantitative Investment Strategies (QIS) team are...

Henderson Hires Deutsche Structured Finance Pro.(News)
April 13, 2009... Byline: Editorial Staff, StructuredFinanceNews.com Henderson Global Investors hired Ganesh Rajendra as head of advisory and research in the firm's structured products team. He will focus on global structured debt markets, including...

Hedge Funds Advance In March, But Underperform Broader Market.(News)
April 13, 2009... Byline: Gerelyn Terzo, Investment Dealers' Digest Hedge funds advanced 1.37% last month, according to hedge fund advisory firm Hennessee Group. The Hennessee Hedge Fund Index, the advisory firm's signature index, reversed February declines...

Arizona Safety Continues Private Equity Diversification.(News)
April 13, 2009... Byline: Marc Sorondo The Arizona Public Safety Personnel Retirement System (PSPRS) approved an investment of up to $31 million with Abry Partners at a meeting this week. Jim Hacking, administrator with the $4.9 billion plan, said that...

Illinois TRS Head Resigns.(News)
April 13, 2009... Byline: Marc Sorondo Jon Bauman, executive director of the $29 billion Teachers' Retirement System of the State of Illinois (TRS), resigned, effective immediately, at a board's meeting today. Bauman leaves the plan after 16 years,...

Mass Prim Boots GMO.(News)
April 13, 2009... Byline: Marc Sorondo The board of the Massachusetts Pension Reserves Investment Management (PRIM) has removed Grantham, Mayo, Van Otterloo from a $230 million emerging markets debt mandate. Tucker Hewes, spokesman for GMO, declined to...

Massachusetts Plan Looks to Fill Director Post.(News)
April 13, 2009... Byline: Marc Sorondo The Melrose Contributory Retirement System is looking for a new executive director to spearhead the day-to-day operations at the plan. Candidates should have five to 10 years of experience, with at least...

Rothstein Kass Hires for Advisory Group.(News)
April 13, 2009... Byline: Editorial Staff Jeffrey Kollin has joined Rothstein Kass as a director in the firm's advisory services group, where he will supervise the growth of the financial services advisory practice. In a published statement announcing...

Ennis Knupp Wins Mandate.(News)
April 13, 2009... Byline: Editorial Staff The $50.6 billion Massachusetts Pension Reserves Investment Management (PRIM) has hired Ennis Knupp + Associates to serve as its investment consultant, Reuters has reported. The plan's previous consultant,...

Wisconsin Plan Looks to Transition Managers.(News)
April 13, 2009... Byline: Jakema Lewis The $1.5 billion Milwaukee County Employees' Retirement System is seeking for transition management services. Early last month, the search was discussed at an investment committee meeting. At that time, consultant...

Illinois Plan Gears Up for Infrastructure.(News)
April 13, 2009... Byline: Marc Sorondo The State Universities Retirement System of Illinois (SURS) has issued an RFP for traditional/core infrastructure managers. Furthers details regarding the search could not be learned by IMW's press time, however....

American Beacon Taps Touchtone Prez for CEO Post.(News)
April 13, 2009... Byline: Editorial Staff Gene Needles will serve as president and CEO of American Beacon Advisors (ABA), effective April 15, the firm said in the statement. Needles was most recently president of Touchstone Investments. Prior to that he...

Alabama State Plan Could Pick up PACT.(News)
April 13, 2009... Byline: Editorial Staff A bill being proposed in the Alabama State Legislature could place the Alabama Prepaid Affordable College Tuition Program under the state's retirement system. If approved, the 10-member board would be removed...

New Illinois Pension Law Removes TRS' Bauman.(News)
April 13, 2009... Byline: Marc Sorondo The recent signing of Senate Bill 364 into law in Illinois will have a huge impact on the Teachers' Retirement System (TRS) as it changes the layout of the plan's 11-member board and forces out the plan's executive...

Angelo, Gordon Beefs Up PE Team.(News)
April 13, 2009... Byline: Editorial Staff Arthur Peponis has joined Angelo, Gordon & Co. as co-head of private equity and special situations, the firm announced in a statement. Peponis previously spent 16 years at Goldman Sachs, most recently as chief...

Fresno County Places Blackstone on Watch.(News)
April 13, 2009... Byline: Marc Sorondo The Fresno County Employees' Retirement Association (FCERA) will be monitoring Blackstone due to the departure of the firm's CIO, Bruce Amlicke, said Roberto Pena, administrator of the $2.5 billion California plan. ...

Rose & Sky Group Hires CEO for Fund Group.(News)
April 13, 2009... Byline: Editorial Staff Rose & Sky Group has announced the appointment of Manuel Ebner as CEO of its fund advisor, Rose & Sky Investments AG, and as managing partner of its fund manager, Rose & Sky Investments (Cayman), effective May 1....

Asset Management M&A to Remain Slow, Yet Noteworthy.(News)
April 13, 2009... Byline: Editorial Staff Recent figures released by Jefferies Putnam Lovell predict that merger and acquisition activity in the asset management space for 2009 will continue to pale in comparison to deals completed last year. During the...

Wisconsin Plan Looks to Transition Managers.(News)
April 20, 2009... Byline: Jakema Lewis The $1.5 billion Milwaukee County Employees' Retirement System is seeking for transition management services. Early last month, the search was discussed at an investment committee meeting. At that time, consultant...

Bill Proposes Merger for Louisiana Plans.(News)
April 20, 2009... Byline: Editorial Staff A bill filed in Louisiana seeks to combine the administration of Louisiana's four state retirement systems. If passed, House Bill 230 would placed the $7.7 billion Louisiana State Employees' Retirement System,...

New Mexico PERA Considers $300M in International Searches.(News)
April 20, 2009... Byline: Marc Sorondo The investment committee of the New Mexico Public Employees' Retirement Association (NMPERA) will recommend to the general board that the plan issue two international RFPs, Robert Gish, director of investments with the...

CalPERS Said to Be Eyeing TARP Assets.(News)
April 20, 2009... Byline: Editorial Staff The $174 billion California Public Employees' Retirement System would like to get its hands on some of the government's Troubled Asset Relief Program (TARP) assets. A Bloomberg report notes that CalPERS plans to...

San Fran Invests in VC Fund.(News)
April 20, 2009... Byline: Marc Sorondo The $12.2 billion San Francisco City & County Employees' Retirement System (SFERS) has added an investment with Trinity Ventures to its portfolio. The up to $15 million investment, which David Kushner, deputy...

SEC Charges Two More in Pension Kickback Scheme.(News)
April 20, 2009... Byline: Editorial Staff, Financial Planning A former hedge fund manager and a former New York state political leader have been charged by the SEC in connection with a multi-million dollar kickback scheme involving New York's largest pension...

ING Names New Head for RE Division.(News)
April 20, 2009... Byline: Editorial Staff Robert Houston, CEO of the investment management business of ING Real Estate has announced his plans to step down from the role on Aug. 1. Houston intends to create a new strategic advisory business, while also...

CalSTRS Appoints Global Equity Co-Directors.(News)
April 20, 2009... Byline: Marc Sorondo The $114 billion California State Teachers' Retirement System (CalSTRS) has named Trish Taniguchi and Glen Blacet co-directors for its newly established global equity asset class. In this new role, the duo will...

Mass PRIM for More Distressed Debt.(News)
April 20, 2009... Byline: Editorial Staff The $36 million Massachusetts Pension Reserves Investment Management (PRIM) board plans to increase its investments in distressed debt to $800 million this year. This amounts to nearly 2% of PRIM's total...

Babson Nabs Former Wachovia VP.(News)
April 20, 2009... Byline: Richard Kellerhals, Leveraged Finance News Babson Capital Management has hired Wachovia's former VP of structured debt finance as a product manager in its global business development group. Loren Sageser, who acted as the head...

CalPERS May Expand Hedge Fund Program.(News)
April 20, 2009... Byline: Editorial Staff The $174 billion California Public Employees' Retirement System will discuss a proposal at a board meeting on Monday regarding an expansion of its internally managed hedge fund investments. CalPERS is...

Large-Cap Wanted At Massachusetts Plan.(News)
April 20, 2009... Byline: Marc Sorondo The Belmont Retirement System is seeking the services of a large-cap value equity manager to oversee a $6 million mandate, according to an RFP issued. The Massachusetts Public Employee Retirement Administration...

Odds & Ends - April 20, 2009.(News)
April 20, 2009... Byline: Editorial Staff Chris Goekjian has joined Cheyne Capital Management as partner and CIO, where he will be responsible for the risk management for all of the firm's funds and investment products, overseeing the firm's portfolio...

Barclays' iShares Division Goes to CVC.(News)
April 20, 2009... Byline: Ken MacFadyen, Mergers Unleashed Private equity may not play a prominent role as it relates to buying up toxic assets, but sponsors are actively seeking the money-making operations of various banking institutions. The latest to...

New President for Chicago Investment Group.(News)
April 20, 2009... Byline: Editorial Staff Thomas Perkins has been appointed president of Chicago Investment Group (CIG), where he will oversee all facets of the firm's operations and report to CIG's chairman, CEO and founder, Richard Lynch. Perkins...

Miller Joins Knight Capital Management.(News)
April 20, 2009... Byline: Editorial Staff Terran Miller has joined Knight Libertas as director of fixed-income research, its parent company Knight Capital Management has announced. He will be responsible for research covering domestic and international...

SEC Investigates Carlyle in NY Pension Probe.(News)
April 20, 2009... Byline: Editorial Staff The Carlyle Group has found itself at the center of an SEC investigation regarding an alleged kickback scheme at the New York State Common Retirement Fund (CRF), the New York Times has reported. The SEC is...

SBCERA Green Lights New Investments.(News)
April 20, 2009... Byline: Marc Sorondo The San Bernardino County Employees' Retirement System (SBCERA) approved three new investments yesterday, confirmed Don Pierce, investment officer with the $4.6 billion California plan. The board approved two...

City of Medford Launches Core-Plus Search.(News)
April 20, 2009... Byline: Marc Sorondo The City of Medford Contributory Retirement System has issued an RFP for an investment manager to oversee a $10 million core-plus fixed-income mandate for the plan. Tina Rapatano, administrator with the $102...

Ex-Gov. Blagojevich Pleads Not Guilty.(News)
April 20, 2009... Byline: Yvette Shields, The Bond Buyer Former Illinois Gov. Rod Blagojevich pleaded not guilty yesterday to federal corruption charges alleging his drive for financial gain influenced state legislation, jobs, and contracts--including the...

Colorado PERA Goes with Newton for Equity.(News)
April 27, 2009... Byline: Editorial Staff The $29 billion Colorado Public Employees' Retirement Association has selected Newton Capital Management to oversee a global equity mandate of an undisclosed size. The London-based firm, which is a subsidiary of...

Barclays to Boost Equity Efforts in Mexico.(News)
April 27, 2009... Byline: Editorial Staff Gabriel Barbara has joined Barclays Capital as head of equities for Mexico, where he will be responsible for establishing and expanding Barclay's equity business in the region. He will report to Jose Antonio...

N.Y. Pension Officials Move to Ban Placement Agents.(News)
April 27, 2009... Byline: Ted Phillips, The Bond Buyer Officials overseeing the pension systems of New York State and New York City took steps to ban the use of placement agents in the wake of criminal indictments by the state's attorney general for alleged...

AllianceBernstein Loses Spot at SBCERS.(News)
April 27, 2009... Byline: Marc Sorondo The board of the Santa Barbara County Employees' Retirement System (SBCERS) has removed AllianceBernstein from the $143 million large-cap value account it manages for the plan. Tom Ford, interim administrator with...

Worcester Seeks Equity Manager.(News)
April 27, 2009... Byline: Marc Sorondo The Worcester Retirement System has placed a $15 million active small-cap value account up for grabs, according to an RFP issued for the search. The domestic equity mandate will be benchmarked against the Russell...

Morgenthaler Hires Co-Partner for PE Team.(News)
April 27, 2009... Byline: Editorial Staff Kevin Macdonald has joined private equity and venture capital firm Morgenthaler as co-managing partner of the firm's private equity team, where he will oversee all of the firm's activities in the sector alongside...

L.A. 911 Preps for Hedge Fund Search.(New)
April 27, 2009... Byline: Marc Sorondo The Los Angeles Fire & Police Pensions (LAFPP) will move forward with its search for an emerging hedge fund-of-funds manager search, said Laura Guglielmo, assistant general manager of the $10.3 billion California plan....

Odds & Ends - April 27, 2009.(New)
April 27, 2009... Byline: Editorial Staff *The $29 billion Harvard Management Company (HMC) has named Daniel Cummings managing director of real estate. He replaces David Ferraro, who left the position in 2007. Cummings will join HMC on June 29. Currently,...

Arizona Safety to Look at Credit Opportunities.(New)
April 27, 2009... Byline: Marc Sorondo The Arizona Public Safety Personnel Retirement System (PSPRS) has retained NEPC to serve as its credit opportunities specialist consultant, Jim Hacking, administrator with the $4.9 billion plan, told IMW. NEPC...

Managers Retain Roles at Oklahoma PERS.(News)
April 27, 2009... Byline: Marc Sorondo The Oklahoma Public Employees' Retirement System (OPERS) has renewed the contracts of its investment consultant and several managers, said Tom Spencer, executive director of the $6.2 billion plan. Barrow, Hanley,...

Hedge Fund Assets to Reach $2.6T Worldwide by 2013.(News)
April 27, 2009... Byline: Editorial Staff, Money Management Executive Hedge funds will reorganize following sharp declines last year and into 2009 to emerge stronger and top $2.6 trillion in assets by 2013, predicts The Bank of New York Mellon and Casey...

Atlantic Street Capital Names Partners.(News)
April 27, 2009... Byline: Editorial Staff Timothy Lewis has joined special situations private equity firm Atlantic Street Capital as a partner. Lewis was previously a partner and member of the management committee at CRG Partners Group. Earlier in his...

Wanted: Equity Managers for Kentucky Worker's Comp Fund.(News)
April 27, 2009... Byline: Marc Sorondo The Kentucky Workers' Compensation Funding Commission is accepting proposals for managers to oversee its roughly $330 million special fund, said Louie Hord, director of fiscal operations with the funding commission....

Alabama Fund Sticks with Stocks.(News)
April 27, 2009... Byline: Editorial Staff The board of the Birmingham Retirement System has rebuffed a proposal made by the city's mayor to revamp the fund's asset allocation. Mayor Larry Langford, who also serves as the chairman of the pension board,...

Second New Mexico Plan Suspends Aldus.(News)
April 27, 2009... Byline: Editorial Staff The $11.5 billion New Mexico State Investment Council (SIC) has suspended private equity advisor Aldus Equity, due to an ongoing investigation in New York. The SIC is the second plan in the state to suspend...

Indiana PERF Plots to Increase TIPS.(News)
April 27, 2009... Byline: Marc Sorondo The Indiana Public Employees' Retirement Fund (PERF) is looking to beef up its investments in Treasury Inflation Protected Securities (TIPS), as it has issued an RFP for a manager in the space. Jeff Hutson,...

Orange County Selects Equity Finalists.(News)
April 27, 2009... Byline: Marc Sorondo The Orange County Employees' Retirement System (OCERS) has narrowed the list of candidates being considered for large-cap and global equity mandates, said Robert Kinsler, spokesman for the $5.96 billion plan. ...