Pensions and Investments: October 1, 2009
Kentucky Retirement Systems, Frankfort, will invest up to $200 million in a direct investment in Arrowhawk Capital Partners’s first hedge fund, Durable Alpha, which launched Sept. 1.
The hedge fund investment is the first for the $12 billion system.
Funding comes from a 5% target allocation to absolute-return strategies approved by KRS’ investment committee in February, CIO Adam Tosh said in an interview.
The Arrowhawk Durable Alpha Fund is a core, risk-controlled, multistrategy hedge fund open to institutional investors and sovereign wealth funds.