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New Mexico Plan Rolls Out GTAA Search

November 10, 2008 - The New Mexico Educational Retirement Board (NMERB) has dotted the I's and crossed the T's on the global tactical asset allocation (GTAA) RFI it has been prepping, confirmed Bob Jacksha, CIO with the $7 billion plan. The search, which has been in the works for the past month (See IMW, 11/3/08 and 10/29/08), will be for $400 million, Jacksha said. He noted that more than one manager may be hired and that funding for the GTAA…

GTAA, Equity and Timber on the Way for New Mexico Plan

October 29, 2008 - The $7 billion New Mexico Educational Retirement Board is gearing up to contact managers regarding global tactical asset allocation (GTAA) strategies, said Bob Jacksha, CIO at the fund. 'We will be issuing an RFI rather than a RFP,' he said. 'It will be on a more limited scope. There are not many players in the space.' …

Lasair Capital Hires for Investment Team

October 22, 2008 - Lasair Capital has hired Jennifer Coffey as a senior investment officer, where she will help select hedge funds and infrastructure and timber assets for the firm's clients, and help to oversee the investments of the Lasair's $180 million in assets under management. Prior to joining Lasair, Coffey oversaw hedge fund investments at HRJ Capital. She has also held positions at Credit Suisse First Boston and Lehman Brothers. …

Wisconsin Plan Considers Commodities

September 15, 2008 - The $1.46 billion Milwaukee County Employees' Retirement System is in the process of receiving education on investments in the commodities asset class. Mercer is advising the Wisconsin system. 'Commodities were only discussed as an educational opportunity,' said Gerald Schroeder, manager at the plan, in an e-mail to IMW. 'More information and review will take place in the future, with no action presently.' Meanwhile, the minutes of a Sept. 2 meeting recently posted on the plan's Web site indicate…

Boeing Hires For Hedge Fund Increase

August 27, 2008 - The Boeing Company has hired Scott Hamp to serve as director of hedge funds for the company's $50.4 billion pension fund. Hemp, previously senior director of international equities with the $32 billion National Railroad Retirement Investment Trust Fund (NRRITF), has been brought on board as Boeing prepares to double its hedge fund allocation from 3% to 6%, or approximately $3 billion, according to published reports. Officials at Boeing did not respond to queries seeing additional details…

Tennessee Fund Moves Into New Asset Class

August 26, 2008 - The $25 billion Tennessee Consolidated Retirement System (TCRS) is planning to invest up to $900 million into private equity following a recent shift in the state's legislation.

Fresno County Adopts New A/A

August 11, 2008 - The Fresno County Employees' Retirement Association (FCERA) has adopted a new asset mix which includes allocations to opportunistic fixed-income, hedge funds and real assets, said Roberto Pena, administrator at the $2.7 billion fund. The changes are due to the results of a recently completed asset/liability study conducted by Wurts & Associates. …

Oregon Council Commits to Three New Funds

August 1, 2008 - The Oregon Investment Council (OIC) made three new investments at its meeting on Wednesday, spokesman Ley Garnett told IMW via e-mail. AllianceBernstein received $200 million for its All Asset Deep Value Fund L.P. 'It's planned to be a $2 billion fund to take opportunities in residential real estate, Garnett said via e-mail. …

FBI Makes Subprime Arrests

June 19, 2008 - Former Bear Stearns hedge fund managers, Ralph Cioffi and Matthew Tannin were arrested and taken to a Brooklyn Federal court today. The charges are the first to come out of federal investigations of possible fraud on the part of banks and mortgage companies whose investments in subprime loans led to nearly $400 billion in losses for Wall Street. Allegedly, Cioffi and Tannin discussed the state of the hedge funds and acknowledged that they were in…

City of Knoxville Creates New Allocations

June 18, 2008 - The $540 million City of Knoxville Pension Board will meet with consultant Dan Holmes of Summit Strategies next month to discuss ways to implement recently approved allocations, said Mike Cherry, executive director at the fund. Following the results of an asset/liability study, the plan decided to carve out allocations of 11% to portable alpha, 5.5% each to emerging markets equity and international small-cap equity and 5% each to private energy and private equity, Cherry said. Within…

Iowa Regents Examines Assets

June 10, 2008 - The $1.8 billion Board of Regents for the State of Iowa is currently undergoing a review of its asset allocation, said Chief Business Officer Patrice Sayre. 'This is a formal review with our financial investment advisor, Wilshire Associates,' she said, adding that plan changes will be brought to the August Board of Regents meeting for discussion and anticipated approval. According to the minutes for the Regents April meeting, the board will consider increasing its investments in real…

Pa. County Plan Doubles Up on Hedge Funds

June 4, 2008 - The Susquehanna County Retirement Fund has increased its allocation to hedge fund investments to 10%, up from the previous 5% the plan had allotted to the asset class, said Cathy Benedict, county treasurer and retirement board member. Benedict said that the board agreed to the doubling of the hedge fund allocation after it was recommended by the plan's consultant, The Seneca Group. Seneca will present hedge fund recommendations to the board during its next quarterly report.…

Illinois TRS Expands Emerging Manager Program

May 23, 2008 - The Teachers' Retirement System of the State of Illinois (TRS) will be expanding its $500 million emerging manager program, said Eva Goltermann, spokeswoman for the $38.7 billion plan. The program, which had earlier encompassed only the public market asset classes, will now also include investments in private equity, real estate and absolute return. Goltermann noted that up to 10% of the program could go into private equity investments. 'TRS staff will take the lead in identifying…

New York TRS Adds More PE, RE

May 7, 2008 - The $105 billion New York State Teachers' Retirement System (NYSTRS) has beefed up its holdings in private equity and real estate. At its meeting last month, the board voted to commit up to $50 million in Caltius Partners IV, up to $175 in CS Strategic Partners IV, up to E50 million in Hutton Collins Capital Partners III and up to $75 million in ABRY Partners VI. The board also approved investments of up to $100 million…

Pa. SERS Approves New Investments

March 14, 2008 - The Pennsylvania State Employees' Retirement System (SERS) has made new commitments in real estate and private equity, said Robert Gentzel, spokesman for the plan. The board approved investments of up to $75 million in Oculus Small-Cap Real Estate Fund I and up to $25 million in Lubert-Adler Real Estate Fund VI. On the private equity side, commitments of up to $40 million to ABS Capital Partners VI, up to $50 million each in Lime Rock Partners…