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Gordon Brothers Form New Investment Management Arm

October 6, 2008 – Gordon Brothers Group has formed a new investment management group to oversee the firm's funds and legacy investments--approximately $500 million in institutional assets. GB Investment Management Group (GBIMG), as the new, wholly owned subsidiary is called, currently focuses on private equity, structured loans and secondary debt investments. GBIMG will be expanding its existing funds and pursuing other industry and sector-focused funds. Currently the firm focuses on the retail, consumer products, real estate and industrial sectors.…

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Features

Big Apple Funds Eye Small-Cap Equity

October 6, 2008 – The New York City Retirement Systems (NYCRS) has issued an RFP for U.S. equity active small-cap managers. NYCRS includes the employees', teachers', police, fire and board of education plans.

New Hampshire Looks At Two Asset Classes

October 6, 2008 – The New Hampshire Retirement System will be making changes to its international equity structure based on recommendations made by Ennis Knupp + Associates According to recently released minutes from the investment committee's September meeting, the consultant conducted a review of the asset class following the transition of a Walter Scott & Partners portfolio from an international equity mandate to a global equity mandate.

Many Promising Alternative Investments Exist, But You Never Know What You'll Get

October 6, 2008 – Alternative investments-including hedge funds, private equity, venture capital and commodities-have long been touted as the answer to plan sponsors' numerous investment challenges. With the S&P 500 down approximately 15% year-to-date-an unacceptable return to most plan sponsors (and investors in general)-alternatives look even more appealing. But alternatives have not been unaffected by the wider market slowdown: The IPO market for venture capital has ground to a halt, exit sales for companies taken private in buyouts are on hold and investing in commodities is facing regulatory scrutiny.

Shorting Ban Vexes Some Funds

September 29, 2008 – Volatile markets are one thing, but when banks stop lending, and people like the President, the Secretary of the Treasury and the Chairman of the Federal Reserve, start talking about the possibility of a financial system collapse, it's got to be a tough time to be a fund manager. It's even tougher if your fund makes use of shorting strategies, now that the SEC has placed a temporary ban on the shorting of financial stocks.

Iowa PERS Preps Overlay Search

September 29, 2008 – The Iowa Public Employees' Retirement System (IPERS) plans to issue an RFP for a beta overlay manager in the upcoming months, said Karl Koch, CIO of the $23.2 billion plan. "The RFP will not be issued until November or later," he said, adding that the size of the mandate could reach as much as $600 million after a few years.

Denver Drops Townsend for Summit

September 29, 2008 – The Denver Employees Retirement Plan (DERP) decided to terminate The Townsend Group last week, confirmed Steven Hutt, executive director of the $2.4 billion plan. Hutt said that the fund will end its contract with Townsend, effective Oct. 1, and roll the real estate investment consultant duties into the duties of its general consultant, Summit Strategies Group.

Two Searches for Alabama Trust Fund

September 22, 2008 – Alabama State Treasurer Kay Ivey has issued two RFPs on behalf of the $678 million Prepaid Affordable College Tuition Trust Fund (PACT). Being sought after are a passive core fixed-income manager to oversee a $68 million mandate, as well as two real estate managers to oversee allocations of $30 million each.

Oklahoma Employee Fund Seeks Index Firms

September 22, 2008 – The Oklahoma Public Employees' Retirement System (OPERS) has launched a search for passive index fund managers. OPERS oversees the retirement investments of the $6.2 billion employees' system and the $225 million judicial employees' system. The plan currently has target allocations for its passive index fund investments, according to the RFP. The employee plan targets $1.45 billion in Russell 3000 Index investments, $480 million each in MSCI ACWI ex-U.S. and MSCI ACWI ex-U.S. Growth index investments and $118 million in Lehman Aggregate Index investments. Meanwhile the judicial plan targets $84 million in Russell 3000 Index investments, $4 million in Russell 2000 Index investments, $52 million in MSCI ACWI ex-U.S. investments and $4.25 million in Lehman Aggregate Index investments.

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