Institutional Investors

Ohio Police & Fire hires for overlay

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As many other public funds consider scrapping portable alpha, the Ohio Police Fire Pension Fund is just putting the finishing touches on its nearly $1 billion package.

Russell Investments is understood to have been selected by the $10 billion pension fund as an overlay manager for the portable-alpha segment that has yet to fully fund its 3% market-neutral mandate, which is to be evenly split between Grosvenor and Investcorp. Managers in the portfolio are split between active currency, enhanced equity, global macro and market-neutral strategies.

FX Concepts and Mellon Capital manage $99 million and $101 million, respectively, in the currency