Christopher Tobe, a trustee to the Kentucky Retirement
System, who had been concerned over the initial hedge fund
allocation at the pension fund, has issued the report of an
independent counsel related to the ongoing SEC investigation of
the pension fund's knowing use of placement agents.
At the centre of the scathing report is Kentucky's $200
million in the multi-strategy Arrowhawk fund, which at the time
had no established track record. Tobe, who at one time worked
with the Kentucky...