Colo. Pistol & Hose Hires K2

May 24 2011 | 12:13pm ET

The $3.3 billion Colorado Fire & Police Pension Association has picked K2 Advisors for a commodity-focused fund of hedge funds mandate.

The pension committed $100 million to the K2 fund, the same amount it granted to GAM and Aetos Capital funds of funds earlier this year.

"The commodities fund of funds will help balance the other two absolute-return approaches," J. Scott Simon, chief investment officer, told Pensions & Investments.

Colorado Fire & Police last year rebooted its hedge fund allocation, setting its target at 11% after eliminating its hedge fund exposure in 2009.

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