Allocation is the first of $600 million in Oregon hedge fund investments to be placed in coming years
The board of the $58 billion Oregon Public Employees Retirement Fund this week approved a $100 million investment in AQR Capital Management’s Delta fund, the first of up to $600 million in hedge fund investments the pension intends to make within the next few years.
AQR’s Delta is a bottom-up hedge fund replicator, executing multiple hedge fund strategies (the name stands for “dynamic, economically intuitive, liquid/lower fees/low leverage, transparent and alternative”). The fund manages $1.7 billion. AQR managed $12.1 billion in hedge fund assets, and $31.7 billion in long-only assets as of midyear.
The Oregon pension