Wednesday, 25 May 2016
Last updated 1 hour ago
May 28 2014 | 9:50am ET
A Louisiana public pension is giving a boost to three of its alternative investment managers.
The Louisiana State Police Retirement System has doubled its allocation to fund of private equity funds Portfolio Advisors, from $10 million to $20 million, Pensions & Investments reports. It also reached its 5% fund of hedge funds target with follow-on investments of $5 million and $3 million, respectively, to Prisma Capital Partners and EnTrust Capital.
The new allocations give each fund about $15 million from the pension.
The investments were funded from cash. The system’s consultant, UBS Prime Asset Consulting, assisted.