Wall Street and Tech – September 2012
One city is looking for a loan and the other is looking to boost returns, but both cases indicate that hedge funds have moved from an alternative into the mainstream.
Alternative investments have officially entered the mainstream.
In a bid to improve sagging returns, a pair of pension plans in San Jose, California are looking to invest $730 million in hedge funds within the next six to 12 months, according to Bloomberg Businessweek. The publication says the City of San Jose’s Police and Fire Department Retirement Plan, along with the Federated City Employees’ Retirement System, are looking to invest in 15 to 20 hedge funds. The piece notes that the pension funds will first look to find multi-strategy funds to invest in, but that they will eventually look to add relative value, event-driven, long-short equity and macro funds to their respective portfolios.
The full article is available here: Wall Street and Tech