Missouri Picks Three Hedge Funds, P.E. Shop For Mandates

Mar 19 2010 | 9:07am ET

The Missouri State Employees’ Retirement System has invested $160 million in alternative investment funds.

The $7 billion public pension awarded the mandates to four hedge funds and private equity funds in the fourth quarter, Pensions & Investments reports.

Three hedge funds each received $50 million allocations. Brevan Howard Asset Management will manage a global value and relative value strategy for MOSERS. Diamondback Capital Management and Elliott International each received multistrategy mandates.

MOSERS also invested $10 million with private equity firm DRI Capital.

MOSERS investment portfolio earned $1.1 billion in 2009, with an investment return of 18.5% for the 1-year period ended Dec. 31, 2009.


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