OPERS Adds Ascend, Canyon

Mar 30 2012 | 12:20pm ET

The Ohio Public Employees Retirement System has begun to deploy the $3 billion it plans to invest in hedge funds this year.

The $76 billion public pension fund added Ascend Capital Partners and Canyon Capital Partners to its hedge fund portfolio, the former receiving $80 million and the latter $90 million. The hirings follow those of Winton Capital Management and BlueCrest Capital Management in January, with those funds splitting $125 million.

OPERS aims to add $3 billion to its hedge fund portfolio by the end of the year, having doubled its target allocation to the sector to 6% in January. Consultant Cliffwater Associates is conducting due diligence on several other hedge funds which could be hired over the next several months, HFMWeek reports.

Indeed, the first four new hires could be just the appetizer for OPERS: The plan could award mandates of as much as $400 million to individual funds of hedge funds and $200 million per direct investment.


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

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

Star Mountain: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of