Arrowhawk continues to cause controversy in Kentucky

Wed Apr 4, 2012

Christopher Tobe, a trustee to the $15 billion Kentucky Retirement System concerned over the initial hedge fund allocation at the pension fund, has issued a 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 investment in a multi-strategy fund run by Arrowhawk Capital Partners, which at the time had no established track record.

Tobe, who at one time worked with the Kentucky State Auditor's office as a pension investment expert, has claimed that he was forced off the investment committee the month prior to a placement agent working with the pension fund in making the allocation to Arrowhawk. The...


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