The $11.1 billion Ohio School Employees Retirement System last month approved investments in two hedge funds, bringing the number approved to date to 25.

The Renaissance Institutional Equities Fund and Linden International will each receive up to $50 million, but actual allocations to individual funds will be much less, according to SERS, which will allocate a total of $250 million to $300 million across a highly diversified group of hedge funds in an absolute return portfolio.

The system also approved investments in two new private equity funds of funds: up to $25 million in JPMorgan European Corporate Finance Institutional Investors IV, and up to $50 million in JPMorgan Venture Capital Institutional Investors IV.

In March, SERS committed a total of $200 million to four hedge funds: King Street Capital, Lansdowne Global Financials Fund, Paulson Advantage and Spinnaker Global Opportunity Fund.