IVY Plus Blog

Mesirow Gets Hit by $75 Million Redemption from Chicago Teachers

 Hedge Fund of Funds, Mesirow Advanced Strategies has had a $75 million redemption from Chicago Teachers.  Pluscios Management, an Ivy Family Office Network past presenter, will now be the only Fund of Funds with capital ($25 million) from Chicago Teachers.  

"The teachers’ fund initially approved a 5% allocation to hedge fund of funds but it was never fully implemented because of the board’s concern with “illiquidity of the asset class, high fees, and the lack of transparency,” according to a board report, citing analysis by investment consultant Callan Associates."

More info here – http://www.pionline.com/article/20121127/DAILYREG/121129942

 

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