Sunday, 28 August 2016
Last updated 1 day ago
Apr 19 2010 | 4:51am ET
The Ohio School Employees Retirement System will boost its direct hedge fund investments by 50%, enriching its current managers by almost $300 million.
The $9.5 billion public pension plans to increase the size of its direct hedge fund investing program to 9% from 6%, Pensions & Investments reports. Most, if not all, of the new money will go to the more than 30 hedge funds already in the system’s employ, among them Bridgewater Associates, King Street Capital and Viking Global Investments.
But OSERS, which last month boosted its hard-cap target for hedge funds to 15% of assets, will consider adding new managers to its stable. The system’s consultant, Askia, is assisting in the new investment plan.