Industry Analysis

Public pensions tout fee/lock-up concessions


Institutional investors are flexing their muscles over fees

Post the liquidity crunch of 2008 that spilled over into 2009 and early 2010, it seems that institutional investors – mainly US public pensions – have had some luck in getting a fairer shake.

Utah Retirement System, California Public Employees’ Retirement System, New Jersey State Investment Council and other public pensions are now focused on finding ways to build long-term relationships with hedge funds by agreeing to longer lock-ups.

Utah Retirement System is understood to still be negotiating heavily with hedge fund managers in its portfolio to get fee concessions. The $20 billion