Missouri to Invest Directly In Hedge Funds

Jan 13 2006 | 9:20pm ET

The $27 billion Missouri Public School & Education Retirement System has selected Albourne Partners to assist in placing $600 million with hedge fund managers.

David Harmston, head of Albourne's U.S. client services division, said his firm only makes direct investments with hedge funds, not fund-of-funds.

"People tend to approach us once they have already had some exposure to hedge funds, generally through a fund-of-funds, and they are looking for help to work on a direct portfolio of hedge funds," said Harmston. However, this is the retirement system's first foray into alternatives.

Currently, Albourne's clients have $50 billion invested in hedge funds. Calls to the Missouri retirement system were not returned by press time.


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