Ohio School commits $160 million to alts

Ohio School Employees Retirement System, Columbus, committed up to $30 million each to hedge funds BlueCrest International Ltd., Eminence Fund Ltd., Level Global Overseas Ltd. and York European Opportunities Unit Trust.

The system also committed up to $40 million to Monomoy Capital Partners II LP, a U.S. middle-market buyout fund.

The commitments by the $9.4 billion pension fund were approved at a March 18 board meeting, spokesman Tim Barbour said.

Funding for all of them will come from cash.

Separately, the board also approved an increase in the target allocation of hedge funds to 15% from 10%. Funding will come from equities. The change comes from a recent study by Summit Strategies, the system’s investment consultant.

Tim Barbour, communications director for the system, could not be reached for further detail by deadline.