Fund launches & closures

Weyerhaeuser pension team spins out as Federal Way

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The pension investment team for Weyerhaeuser recently completed a corporate spin-off – creating a new independent investment adviser called Federal Way Asset Management based in Federal Way, Washington.

Although the group is no longer a Weyerhaeuser subsidiary, the team will continue to manage Weyerhaeuser’s pension assets as it did previously, according to Jeff Klein, deputy chief investment officer.

The firm will manage client portfolios with a focus on alternative investment strategies including hedge funds. Previously, the group – headed by Salim Shariff – had roughly 80% plus in alternatives, including a 53% allocation to hedge funds.

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