Louisiana Police Seeks New Fund Of Funds Manager

Mar 25 2010 | 11:19am ET

The Louisiana State Police Retirement System is canning UBP, opening to door to a new fund of hedge funds manager to take over the $10 million mandate.

The $372 million pension fund has short-listed about 10 managers, Pensions & Investments reports. It expects to choose a manager at its June 16 board meeting.

The system is ending its relationship with UBP due to performance and organizational issues, executive director Irwin Phelps told P&I.

The police pension has a 5% allocation to hedge funds. GAM is its other manager, also with a  $10 million mandate.

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