The Tennessee Consolidated Retirement System finished 2013 with a bang, sending out checks for some $400 million to a number of private-equity funds as it seeks to reach its 3 percent asset class target. Chris Witkowsky at PE Hub has the rundown:
• $20 million to OrbiMed Private Investments V
• $20 million to Drive Capital Fund I
• $75 million to Olympus Growth Fund VI
• $75 million to AXA Secondary Fund VI
• $55 million to Merced Partners IV
• $55 million to General Catalyst
• $60 million to Trident VI
• £40 million to Vitruvian Investment Partnership II
Click here for background info on the other millions the state pension system has placed in the hands of private-equity managers since 2009.
Pinnacle Financial Partners has recruited veteran investment consultant Rhett Fordham to its Mallory Lane office in Cool Springs. Fordham, who is a senior vice president, has a dozen years of experience, most recently as a VP and investment executive at Fifth Third Securities. Before that, he also worked as a regional VP for Riversource Annuities in Minneapolis and as a licensed sales assistant for SunTrust Investment Services.
Shares of Community Health Systems are trading at their lowest levels since January (Ticker: CYH) but there appear to be at least a few investors who believe they will bounce back in the near future. Mike Yamamoto at OptionMonster.com reports that a large number of January $39 calls were bought this week, which would begin to pay off after a climb of about 7 percent.
Local investment evaluator David Trainer has signed an agreement to supply its research reports to clients of FA Today, which sells news and technology tools to independent financial advisors looking to connect with each other. FA Today's current format was launched in October, when it had about 12,000 users.
Vanderbilt University's endowment posted a gain of more than 9 percent in the year ended June 30, thanks in good part to growth in its international stock portfolio. Rob Kozlowski of Pensions & Investments writes that the university's investment managers want to further grow their exposure to global markets.
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