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
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...