The $687 million Ohio Highway Patrol Retirement System awarded a $10 million allocation to Pinnacle Asset Management at a recent trustee meeting.
The natural resources mandate at year-end was pending contract negotiations and due diligence. The pension fund already has two existing funds of hedge funds – Evanston Capital and Protégé Partners in addition to a few individual hedge funds. The initial allocation to Evanston Capital totalled $20 million and was made in 2007. The Ohio Highway Patrol investment committee also heard finalists’ presentations from ABS Investment Management and Prisma Capital Partners in the latest fund of funds