OKLAHOMA CITY — Oklahoma Police Pension and Retirement System trustees in the first quarter are likely to decide on whether to make investments in real assets.
Trustees at the $1.6 billion Oklahoma City-based fund last month heard a presentation on real assets from consultant Asset Consulting Group, confirmed Bob Wallace, executive director.
No action was taken at the meeting.
CHEYENNE, Wyo. — The Wyoming Retirement System will begin looking at potential private equity investments this year, said Harry Wales, deputy director.
Officials at the $5 billion pension plan have been considering the asset class for several years and hope to be ready to make investments by spring, he said.
Further details were not available.
BOSTON — Old Mutual Asset Management started a hedge fund of funds that invests with new and small managers. Managed by OM subsidiary Larch Lane Advisors, the Old Mutual 2100 Emerging Managers Fund will make investments with hedge fund managers with less than $400 million in assets under management and track records of less than three years, according to a registration filing with the SEC. Larch Lane managed $714 million in hedge fund of funds as of July 31, according to the SEC document.
The investment fee is 1.45%, in addition to management fees between 1% and 2% and performance fees between 15% and 20% charged by the underlying hedge fund managers. The minimum investment is $250,000. The tentative closing date for initial share purchases is March 1, according to the filing.
The new fund's portfolio management team includes Larch Lane CIO Mark Jurish; Stephen A. Gorman, director of research; and Diego Orlanski and Raul Guimaraes, both managing directors and vice presidents.
William J. Landes, CEO of 2100 Capital Group — the Old Mutual alternative investment subsidiary that owns 75% of Larch Lane — is also a portfolio manager of the fund, according to the SEC filing.
The fund's investment team set a tentative upper limit on the fund of $500 million, given the small size of the underlying managers, Joseph Demmler, COO of 2100 Capital Group, said in an interview.
The capacity limit is "a soft target" and might be changed, depending on market conditions or configuration of the portfolio, he said.
NEW YORK — Diamond Castle Holdings closed its first private equity fund, Diamond Castle Partners IV, at $1.825 billion, said Amy Rosenberg, spokeswoman.
Investors include the $48 billion Minnesota State Board of Investments, St. Paul.
NEW YORK — Citigroup Property Investors closed two real estate funds, the €1.162 billion ($1.5 billion) CPI Capital Partners Europe and the $603 million CPI Capital Partners North America, said Jon Diat, spokesman.
Investors in the European fund include the $100 billion Teacher Retirement System of Texas, Austin, and the $10.2 billion Los Angeles City Employees' Retirement System. Investors in the North American fund include the $84 billion New York State Teachers' Retirement System, Albany.
NEW YORK — Greenwich-Van changed its name to Greenwich Alternative Investments, according to a news release.
The firm's hedge fund-of-funds and hedge fund indexes were also renamed; they will be known as the Greenwich Global Hedge Fund and the Greenwich Investable Hedge Fund indexes. The firm was formed about a year ago after the company acquired Van Hedge Funds.
