The $10.5 billion Ohio Police & Fire Pension Fund will begin searching for long-short market neutral managers later this year as the final part of its four-part portable alpha strategy. At its board meeting on Wednesday the plan selected Bridgewater Associates and AQR Capital Management to manage approximately $315 million in global macro, the third part of the strategy. The fund had issued an RFP in February.
Dave Graham, spokesman for the plan, said the amount each manager will handle has not yet been decided and will not necessarily be split evenly. Money for the allocation will come from a Russell 10 Index fund.