CTPF Jumps In:

Investors’ Long Day’s Journey into Africa Investing Continues The approximately $11 billion Chicago Teachers’ Pension Fund (CTPF) evidently was attentive and took careful notes as part of a delegation of investors that visited South Africa in the spring of 2017, and Senegal and South Africa one year later. The upshot: At its Jan.17 board meeting, …

California County System Poaches NY Common’s Sr. Invest. Officer Tucker

Reginald D. Tucker, senior investment officer of opportunistic investments and absolute return strategies at the New York Common Retirement Fund (NYCRF), is leaving his post after five years to join The Orange County Employees Retirement System (OCERS) in a newly created managing director position, he confirmed. At OCERS, he will continue to source investments across all asset classes …

Single-Digit Level Returns for Developed Equities in 2019: Cambridge Predicts

Analysts, consultants and asset managers have all been weighing in with their 2019 investment outlooks, forecasts and reports. Many are emphasizing the geopolitical and macro-economic risks that are bearing down on the market. Cambridge Associates shares those concerns. “But we also look at fundamentals and valuations, and the picture there is a little less gloomy …

Texas TRS CIO Sheds Light on Private Equity Progress and Staffing Goals

The Teachers Retirement System of Texas (TRS) with $153 billion in assets under management, unveiled the latest updates to its “Fleet” strategy—a term the system uses to describe its strategy of consolidating funds and its addition of staff, in order to save on fees over time—at its Board meeting last week. The idea behind the …

Asset Owner Spotlight: Robert “Vince” Smith, CIO, New Mexico State Investment Council

Institutional Allocator Managing Editor Leslie Kramer spoke recently with Robert “Vince” Smith, chief investment officer of the New Mexico State Investment Council (NMSIC), a sovereign wealth fund, based in Santa Fe, NM, with a $24 billion permanent endowment.  Smith shared his career trajectory leading to his current job, his passion for his work, the Council’s …

Cal. State’s Controller Betty Yee Speaks from her Seat on CalPERS, CalSTRS Boards

Betty Yee, California’s 32nd state controller and chief financial officer, will this week deliver the Breakfast Welcome Address at Markets Group’s 6th Annual California Institutional Forum in Sonoma. Yee is a board member of the $346.8 billion California Public Employees’ Retirement System (CalPERS) and the $219.2 billion California State Teachers’ Retirement System (CalSTRS), the two …

IA Strategy: Hartford HealthCare Stays Conservative, with Sprinkling of Alts

Conservative investments paired with choice alternatives have sustained not-for profit Hartford HealthCare’s $3.3 billion hospital fund through market swings over the past eight years, according to Chief Investment Officer David Holmgren. The endowment currently invests around 10% of its portfolio in private equity (PE), while its direct peers invest roughly 30% in the asset class, Holmgren told Institutional Allocator. “We …

Pension, E&F Investment Pros Cautiously Optimistic on Hedge Funds

Though just five percent (or 400) of 8,000 hedge funds (HFs) are even considered investable, according to Joe Marenda, a managing director and hedge fund specialist at Cambridge Associates, “the beauty [of hedge funds] is really in the eye of the beholder—based on portfolio need,” he said. Though institutional investors are currently holding their allocations …

IA Strategy: NMSIC Formulates Pre-Recession Strategy: More Cash, Less Public Equities

Robert “Vince” Smith, chief investment officer (CIO), of the $24 billion New Mexico State Investment Council (NMSIC), a permanent endowment for the state of New Mexico and the third largest domestic sovereign wealth fund in the U.S., is all about planning ahead. In a roundtable discussion at MarketsGroup’s Southwest Forum in New Mexico, in September, Smith said …

Investors in Alternatives Seeking Separate Accounts and Co-investments

Over the next five years, institutional investors in alternative assets will be looking to increase their investments in separate accounts and co-investments at the expense of pooled or commingled structures, for reasons of greater control and potentially lower management fees, according to a report just published by research and data firm Preqin, titled The Future …