Worcester Hires Two, Cools on Portable Alpha

Feb 10 2006 | 10:32pm ET

The $666 million Worcester (Mass.) Retirement System has hired hedge fund-of-funds managers The Blackstone Group and Aetos Capital to handle $10 million each. The other finalists were Ironwood Capital Management and Entrust Capital.

Also, James DelSignore, chairman, said the plan has cooled slightly on an investment into portable alpha because of current market conditions. The plan has been discussing the strategy with its consultant, Meketa Group, and recently received permission from the state's pension regulator to make an investment.

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