Hedge Funds
The fund will consider adding an allocation with a new special situation strategy within its portfolio at its April board meeting.
The fund added a commitment to a multi-strategy hedge fund within its endowment in the first quarter.
The retirement system has a 6% target to hedge funds.
The pension plan also adopted a new asset allocation policy for its $141.8 billion Core Trust Fund last month.
The plan will add new firms to its hedge fund portfolio over the next 18 months as it looks to adopt the second version of its strategic partnership program.
The retirement system will consider six commitments totaling $265 million at Thursday’s investment committee meeting.
The retirement system fully redeemed its investment in the manager due to underperformance.
The system approved revising the asset allocations for its endowment and liquidity pools after reviewing the allocation strategies for both pools in recent months.
The retirement system also recently made commitments totaling $585 million.
The plan made several changes as part of a total equity structure review at today’s board meeting.