Funds of Hedge Funds Institutional Investors

Philadelphia adds niche fund of funds with K2, Lighthouse

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The Philadelphia Board of Pensions and Retirement has added K2 Advisors and Lighthouse Partners to its fund of funds line-up, which already includes non-directional offerings.

K2 will handle approximately $25 million in a long/short equity fund of funds, while Lighthouse has a $10 million allocation in a managed futures fund of funds. There are no immediate plans to hire other niche funds of funds, but Philadelphia has not ruled out adding other niche strategies at some point, said Christopher McDonough, chief investment officer of the $3.6 billion municipal pension plan.


  Christopher McDonough


Additional direct hedge fund