The Colorado Fire & Police Pension Association is set to begin a $270 million hedge fund program with its first in a series of monthly hires.
The $2.9 billion public pension fund plans to invest about $35 million with a long/short equity hedge fund in March. The FPPA is currently conducting due diligence on the lucky hedge fund, which was not identified.
The plan expects to hire further hedge funds at the rate of one a month, until the entire $270 million mandate is filled, HFMWeek reports.
The FPPA currently invests directly in only one hedge fund, Aetos Capital. It also has $200 million invested with funds of hedge funds GAM Holding and K2 Advisors.