Ohio Pension Eyes Hedge Funds For $1.2B Buy

Jun 27 2011 | 3:05am ET

The Ohio Public Employees Retirement is poised to make its first foray into single-manager hedge funds a big one. The $76 billion pension plans to invest about $1.2 billion in single and multi-strategy funds in the third quarter, Pensions & Investments reports.

The move follows OPERS’ investment of $700 million in funds of hedge funds last year. The pension boosted its allocation to hedge funds to 3% last year, as well.

OPERS will not issue requests for proposals; instead, the pension has asked interested managers to contact the system directly. Those interested managers should have at least $1 billion in assets under management.

Hedge fund consultant Cliffwater will assist the pension in due diligence and will recommend managers to OPERS. The first round of funds is expected to be completed during the third quarter of the year.


In Depth

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Lower middle-market companies form the economic fabric of the nation, but they can...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

 

From the current issue of