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 …

New Mexico Funds Fashion Private Debt Benchmarks that Fit

Finding effective benchmark measures for private debt has proven challenging to even the most nimble-minded institutional investment practitioners. Nevertheless, some chief investment officers and portfolio managers at pension funds and endowments are coming up with their own ways to solve, at least in-part, this diverse asset class’s benchmarking issues. IA’s Managing Editor Leslie Kramer spoke with …

Consultants Grapple with Private Debt Benchmarking

Private credit, a relatively new asset class, offers investors a large, multi-asset class that encompasses a variety of niche strategies. While the term “private debt” is not well defined by the industry, “We estimate the size of the U.S. middle market at around $400 billion, and adding distressed would bring that number much higher,” said  Stephen …

Plan Sponsors’ Downward Pressure on AM Fees May Come at a Cost

The much discussed push by institutional investors to reduce their asset management costs, which has taken hold in earnest since the financial crisis, is now bringing a new question to the fore: will lower fees lead to lower-quality asset management services and to the insolvency of asset managers, some of whom will be forced to …

Investors Eye Diversification Potential in Asian Private Debt Mart

Interest in Asian private debt is growing. But while there are opportunities to be had, consultants suggest that investors proceed with caution. “We have observed more interest in Asia private credit than in previous years, as investors look to diversify their credit portfolios and gain access to a region which is regarded as having compelling …