Institutional Investors

Kentucky Retirement allocates $1.2bn to funds of funds


The $15 billion Kentucky Retirement System selected three firms to manage a total of $1.2 billion in the pension fund’s new hedge fund programme.

Pacific Alternative Asset Management Company, Prisma Capital Partners and Blackstone Alternative Asset Management will manage $400 million each that will be funded from a variety of sources via rebalancing. RV Kuhns is the consultant advising Kentucky on its new allocation and as of earlier this year it had not been determined whether there would be a set split between funds of funds and single-manager hedge fund offerings.

Until now,