Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Board authorizes $2.5 million rebalancing within hedge-fund sleeve
Summary
The City of Providence Board of Investment Commissioners voted to authorize Segal to redeem $2.5 million from Renaissance and reallocate it to a more diversified hedge-fund manager to reduce risk; execution was delegated to Segal.
The City of Providence Board of Investment Commissioners on March 26 authorized Segal to redeem $2.5 million from Renaissance Institutional Equities and reallocate the proceeds to a more diversified hedge-fund manager, a move advisers said was intended to reduce portfolio volatility while preserving hedge-fund exposure.
Segaladvisor explained that Renaissance is a long-short equity manager with higher…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
