Institutional Investors

Ohio SERS extends Aksia advisory contract


Ohio School Employees’ Retirement System has more work for Aksia as trustees decided to extend the hedge fund advisor’s contract to 31 December.

According to a spokesman for the $7 billion retirement system, the contract extension was due to fact that trustees did not want to conduct a general investment consultant search and a hedge fund consultant search at the same time. The system’s current general investment consultant is Summit Strategies. Ohio SERS recently increased the maximum investment for three of its existing hedge fund mandates, totalling $60 million in add-on commitments.

The maximum allocation was raised to