Opinion

Is it back to the drawing board for direct investors?

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It might be time for some institutional investors to take a deep breath before plunging back into the offering memorandums

By Susan Barreto

Given events of the past few months it might be time for some institutional investors to go back to the drawing board, or at least to take a deep breath before diving into the offering memorandums once again.

The combination of the SEC and FBI investigations into insider trading, the success of distressed debt plays and portfolio manager exits have created enough mayhem for US pensions with newly minted direct hedge fund portfolios.

For the New York State Common Retirement Fund, Indiana Public Employees and Ohio School Employees’ Retirement it