Institutional Investors

Louisiana outlays $300m for Prisma and Entrust mandates

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The Louisiana State Employees Retirement System (LASERS) has hired Prisma Capital Partners and Entrust Capital in an expansion of its hedge fund programme.

Prisma will handle $200 million, while Entrust will have a $100 million opportunistic fund of hedge funds mandate for the $9.2 billion retirement system. Onsite due diligence was done prior to board interviews in late May with finalists Blackstone Alternative Asset Management, Entrust, Permal Group and Prisma. All four made presentations at trustees’ May board meeting. The new mandates are said to be funded via the liquidation of prior commitments to GAM and K2.

GAM