Institutional Investors

Cincinnati grows hedge fund portfolio to $255m


The City of Cincinnati Retirement System in Ohio has dramatically increased its allocation to hedge funds from 5% to 15% (equivalent to $255 million) of the overall portfolio, which was the maximum allocation to hedge funds considered during the portfolio review.

The size of other alternative investment strategies remained the same as trustees of the $1.7 billion retirement system opted to reduce the US equity allocation to increase international equity and long/short equity as a way to reduce portfolio volatility.

The existing long/short equity portfolio is managed by ABS Global and Common Sense, which received allocations of $33 million