Ohio Pension Adds Comac To $3 Billion Hedge Fund Spend

May 17 2012 | 10:12am ET

The Ohio Public Employees Retirement Systems continues to spend its new $3 billion hedge fund allocation.

The latest beneficiary of its plan to deploy those billions by the end of the year is Comac Capital. The $73.3 billion public pension voted to invest $120 million in Comac's Global Macro Fund yesterday, HFMWeek reports.

Comac's hire follows that of Ascend Partners and Canyon Capital Partners in March and those of Winton Capital Management and BlueCrest Capital Management in January. The Comac mandate is the largest that OPERS has so far handed out as part of the new program; the previous four hires split $295 million.

OPERS plans to hire more new funds this quarter and next, it said, in addition to an opening for hedge funds to seek a slice of a separate risk parity mandate.

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