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Connecticut chooses Prudential Retirement to administer 3 state DC plans
trueConnecticut Office of the State Comptroller and members of the State Employees Retirement Commission hired Prudential Retirement as third-party administrator for the state’s three defined contribution plans.
OM Asset Management's AUM up 3.3% in quarter, 11.1% for year
trueOM Asset Management reported $220.8 billion in assets under management as of Dec. 31, up 3.3% from Sept. 30 and up 11.1% from Dec. 31, 2013.
Knights of Columbus forms money manager, targets Catholic institutional investors
trueKnights of Columbus, a New Haven, Conn.-based Catholic fraternal service organization, launched a money management company that caters to Catholic institutional investors.
BlackRock hires head of EMEA hedge fund strategies
trueLuke Dixon joined BlackRock as head of Europe, Middle East and Africa hedge fund investment strategies.
Vanguard increases international equity, bond allocations in target-date funds
trueVanguard Group is changing the allocation of its target-date and target-risk funds by raising its international equity and international bond components.
Morgan Stanley offers to settle DOJ probe into MBS deals
trueMorgan Stanley agreed to pay $2.6 billion to resolve an investigation by the Department of Justice into its mortgage-backed securities deals.
Fortress Investment Group reports 2.2% AUM gain in fourth quarter
trueFortress Investment Group reported $67.5 billion in assets under management as of Dec. 31, up 2.2% from three months earlier and up 9.4% from a year earlier.
Mercer AUM up 34% in 2014
trueMercer’s global assets under management reached $115.5 billion as of Dec. 31, up 34% from the end of 2013.
Allianz reports 144.8 billion euros in net outflows at PIMCO in fourth quarter
trueAssets under management at Allianz's money management arm decreased 3.8% to €1.8 trillion ($2 trillion) in the quarter ended Dec. 31, but were up 1.8% for the year, despite continued outflows following former PIMCO Chief Investment Officer William H. Gross' September departure.
Blue Sky Alternative Investments taps new leader for its hedge fund business
trueNeil Power joined Blue Sky Alternative Investments in Sydney as managing director of the firm's hedge fund division.
Fortress macro fund dropping equity strategy after January loss
trueFortress Investment Group's Michael Novogratz is dropping the stock-picking strategy managed as a part of its macro fund.
Gryphon Investors hires former chairman of New Jersey State Investment Council
trueRobert E. Grady will join private equity firm Gryphon Investors as a partner on March 2, a new position.
River and Mercantile Group bolsters U.K. institutional distribution team
trueJenny Yoe was named managing director, head of U.K. institutional for River and Mercantile Group, one of four recruitments or promotions for the U.K. institutional distribution team.
J.P. Morgan institutional asset growth by investor type
trueJ.P. Morgan Asset Management says the firm's institutional assets under management grew at twice the rate of the overall industry between 2009 and 2013. Its institutional AUM grew 14% annually vs. 7% for the industry over that period, according to a presentation at the company's investor day ...
Baring Private Equity Asia closes sixth fund at $4 billion, 60% higher than Fund V
trueBaring Private Equity Asia closed its Baring Asia Private Equity Fund VI at about $4 billion, a record amount for the Hong Kong-based firm and up 60% from the prior fund it closed in 2011.