Saturday, 2 August 2014
Last updated 10 hours ago
Jun 22 2012 | 11:38am ET
Colorado's first responders have committed another $30 million to another hedge fund.
The latest beneficiary of the $3.3 billion Colorado Fire & Police Pension Association's $300 million hedge fund program is Pershing Square Capital Management. The New York-based hedge fund fills the pension's activist mandate, although CEO Dan Slack told Pensions & Investments, "It's possible we could look for another activist hedge fund."
Pershing Square is the fifth hedge fund hired by the public pension this year; all told, the five have received about $160 million. Slack said that Colorado Pistol & Hose has filled its event-driven mandate, but could still add long/short hedge funds.
Consultant Albourne Partners assisted with the Pershing Square hire.