Pa. Schools Adding $1.2 Billion To Hedge Funds

Jun 27 2011 | 3:01am ET

A major Pennsylvania pension is planning a big boost in its hedge fund portfolio.

The Pennsylvania Public School Employees' Retirement System in March increased its hedge fund target to 12%, giving the $51.2 billion public pension an extra $1.2 billion to play with in the space. And play it will, seeking out single-manager hedge funds will the help of hedge fund consultant Aksia.

In addition to single- and multi-strategy funds, the Pennsylvania pension may also add emerging hedge fund managers, although details of that plan remain to be worked out, Pensions & Investments reports.

Some $550 million of the $1.2 billion has already been allocated to Mariner Investment Group and Capula Investment Management.

PSERS does not plan to issue requests for proposals to find managers for the rest.

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