Institutional Investors

Connecticut town adds CTA exposure in fund rebalance


The $220 million Danbury Connecticut pension fund has allocated roughly $8 million to Abbey Capital as it rebalances its funds to increase the diversification of its hedge fund allocation.

The pension fund has a number of funds of hedge funds and single manager holdings. Shifts from Lighthouse Partners and GoldenTree Asset Management were the source of the Abbey allocation, while officials are almost fully redeemed from UBP. Trustees had decided to redeem from UBP following negative headlines said David St Hilaire, finance director for Danbury.

UBP is the only bank that has agreed to a settlement in the