Colorado Fire & Police Add Aetos To Absolute Return Portfolio

Mar 23 2011 | 10:53am ET

The Fire and Police Pension Association of Colorado has awarded a $130 million mandate to Aetos Capital.

The $3.1 billion pension's board of directors approved the hire last week, HFMWeek reports, the second of three hedge fund mandates to be awarded for its new absolute return program. GAM Holding won the first, totaling $100 million, for a global macro mandate.

The Colorado pension will invest in Aetos' long/short equity strategy.

Meanwhile, the FPPA is in the middle of its due-diligence process to pick its third absolute return manager, for a commodities mandate.

The pension allocated 11% to hedge funds in 2009, when it replaced its portable alpha program with the absolute return program.

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