Hedge Funds Institutional Investors People Moves

Philadelphia to boost hedge fund allocation, plans new hire


The Philadelphia Board of Pensions and Retirement has been considering boosting its hedge fund allocation to 10% from 6%, as officials continue to move forward with direct investments in hedge funds.

The board also had a recent job posting for an investment officer - hedge funds/public equities. The position at the $3.8 billion pension fund will have responsibilities within the hedge fund, public equity and portable-alpha portfolios.

The investment officer will report directly to chief investment officer, Christopher McDonough, and work closely with a nine-member board of trustees. Duties include recommending appropriate strategies and the number of managers