Institutional Investors

Arrowhawk continues to cause controversy in Kentucky


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