Institutional Investors

FoHFs to steer Colorado Fire and Police foray

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The $3 billion Colorado Fire and Police Pension Association is tactically structuring its own direct hedge fund portfolio relying on three fund of hedge fund managers, a consultant and two staffers in handling due diligence and in-depth strategy and manager research.

This year plans are underway to allocate $300 million to long-biased long/short equity managers including a search for activist managers and event-driven funds. Austin Cooley, investment officer of alternatives at Colorado Fire and Police, has already sourced managers for the long/short portfolio. The first direct allocation in the programme was made to Coatue for $34.5 million.

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