Ohio SERS To Hold Off On Hedge Fund Adviser Review

Mar 15 2011 | 2:45am ET

Hedge fund adviser Aksia has received a temporary reprieve from the Ohio School Employees Retirement System.

The $9 billion pension has extended the firm's contract through at least the end of the year; it had been up for renewal on Aug. 15. Instead, Aksia will continue to serve as its hedge fund consultant until it conducts contract review requirements next year, a process which Aksia will be permitted to take part in.

SERS said it decided to postpone the hedge fund consultancy review until after it completes its general consultancy review; the pension's current general consultant is Summit Strategies.

"We didn't want to do these two searches at the same time," spokesman Tim Barbour told HFMWeek.

SERS allocates 15% of its assets to hedge funds.

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