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
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...