Does loyalty lie with the lawyer or the law firm?
Big changes were afoot in the London hedge fund legal scene last week, after New York-based Akim Gump swooped on Simmons & Simmons
17/02/2010
Fairfax ERFC to review hedge fund portfolio
The investment committee for the $1.3bn Fairfax Educational Employees’ Retirement System (ERFC) is set to meet in the next few weeks to review its hedge fund investments, according to a spokesperson.
The committee met at the end of last year to outline investment projects for 2010. According to meeting minutes, the projects include a review of the diversification among ERFC’s current funds of hedge funds (FoHFs) as well as ‘implementing revised strategic allocations’.
Virginia-based ERFC will also review its real estate portfolio, and is considering adding a private equity and a global Reit allocation.
Last year, ERFC suspended a search for a multi-strategy hedge fund manager on the recommendation of its advisor New England Pension Consulting, which suggested delaying further investment in hedge
funds due to market volatility.
ERFC’s FoHFs are Grosvenor Capital Management and Permal Investment Management
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Editor's view: 8 February 2012
Speculative moves, a perceived landgrab and a potential bidding war in the hedge fund sector have all opened up in recent weeks
Comment: Julian Korek
"Advisers need to be analysing key considerations and determining where they fall in the spectrum of SEC registration; no easy task given the scope of the legislation"
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