Monday, 27 February 2017
Last updated 31 min ago
Jan 24 2013 | 9:24am ET
The Oklahoma Police Pension & Retirement System has added Hoplite Capital Management to its direct hedge fund investment program.
The $1.9 billion plan has committed $7.5 million to the New York-based firm's Offshore Fund, Pensions & Investments reports. The commitment will be funded by the pension's redemption from fund of hedge funds Attalus Capital.
Hoplite, led by Viking Global Investors veteran John Lykouretzos, is the fifth hedge fund OPPRS has invested in, as it seeks to increase its direct hedge fund portfolio to between 12 and 15 managers overseeing $100 million by the end of the third quarter.
Hoplite was recommended by the pension's consultant, Asset Consulting Group, and by Grosvenor Capital Management, which both manages a $150 million fund of funds mandate of OPPRS and handles back-office and due-diligence matters for the direct portfolio.