Institutional Investors

Alaska allocates $120 million, hires two multi-managers

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The Alaska State Retirement System allocated an additional $120 million to its absolute return portfolio via funds of hedge funds at the end of 2009.

Prisma Capital Partners and Global Asset Management were selected to manage $50 million and $75 million respectively. Information on the source of funding for the portfolios was not available, but officials at the $14 billion system also redeemed $5 million from Cadogan Management, which handles $115 million of Alaska's nearly $700 million hedge fund portfolio. Cadogan was placed on a watch list in 2006 following