The $11 billion Alaska Retirement System is in the process of terminating Mariner Investment Group, confirmed chief investment officer Gary Bader.
He added that there are no plans to replace the firm that managed a $192 million portfolio that had negative returns of -0.77% in the month of December, according to monthly financial reports. General counsel for Mariner declined to comment on the termination.
Alaska has been allocated to Mariner’s Arctic Bear Fund, a fund of hedge funds, since November 2004. In the first quarter of last year Mariner received a $40 million withdrawal from the Alaska Retirement