Milwaukee Pension Adds Hedge Funds

Apr 26 2013 | 9:54am ET

The Milwaukee City Employees' Retirement System is preparing for its first foray into hedge funds.

The $4.2 billion public pension fund's new asset allocation plan includes hedge funds for the first time. Milwaukee aims to put 5% of its  portfolio into hedge funds and absolute-return strategies, Pensions & Investments reports; whether it will use funds of funds and invest directly, and what strategies will be targeted, have yet to be determined.

Decisions on searches are expected to come this summer.

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