Hedge Funds Institutional Investors

Colorado Fire & Police could increase allocation

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The Fire & Police Association of Colorado may end up increasing its stake in absolute return assets even as trustees ended up barely dodging an exposure to Bernard Madoff.

Last summer, the $3 billion pension fund hired GAM to replace Fairfield Greenwich, which officials said they decided to terminate in favour of a more broadly diversified fund of funds. Fairfield Greenwich had nearly $7 billion invested with Madoff mainly via feeder funds, but the fund of hedge fund unit had roughly $200 million with the Ponzi scheme.

Scott Simon, chief investment