{"id":21703,"date":"2011-04-06T01:13:50","date_gmt":"2011-04-06T05:13:50","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=21703"},"modified":"2011-04-06T01:14:43","modified_gmt":"2011-04-06T05:14:43","slug":"massachusetts-pension-cuts-middleman-in-hedge-fund-investments","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/04\/2011\/massachusetts-pension-cuts-middleman-in-hedge-fund-investments.html","title":{"rendered":"Massachusetts Pension Cuts Middleman in Hedge Fund Investments"},"content":{"rendered":"<p>Bloomberg &#8211; The Massachusetts state pension fund, which oversees $49.5 billion of assets, will begin bypassing middlemen by directly investing as much as $500 million in hedge funds.<\/p>\n<p>The board that oversees the fund, known as the Massachusetts Pensions Reserves Investment Trust, voted today to hire Cliffwater LLC to advise it as it shifts money out of the $3.8 billion it has placed in hedge fund of funds, which charge an additional management fee. Officials are hoping to lower the cost of investing in the alternative-asset class and improve performance, according to Steven Grossman, the state treasurer who oversees the board.<\/p>\n<p><strong><a href=\"http:\/\/www.businessweek.com\/news\/2011-04-05\/massachusetts-pension-cuts-middleman-in-hedge-fund-investments.html\" target=\"_blank\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberg &#8211; The Massachusetts state pension fund, which oversees $49.5 billion of assets, will begin bypassing middlemen by directly investing as much as $500 million in hedge funds. The board that oversees the fund, known as the Massachusetts Pensions Reserves [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-21703","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/21703","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=21703"}],"version-history":[{"count":2,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/21703\/revisions"}],"predecessor-version":[{"id":21705,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/21703\/revisions\/21705"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=21703"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=21703"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=21703"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}