Ohio PERS puts $440 million into 3 hedge funds

Ohio Public Employees Retirement System, Columbus, made three new direct hedge fund investments totaling $440 million, confirmed spokesman Michael Pramik.

The $76.4 billion pension fund committed $160 million each to credit-oriented Brigade Leveraged Capital Structures Fund, run by Brigade Capital Management, and Saba Capital Partners, a credit relative value strategy; and $120 million to KLS Diversified Fund, managed by KLS Diversified Asset Management.

The commitments bring the pension fund's total direct hedge fund investments to $3.12 billion.

Hedge fund consultant Cliffwater assisted.