Ohio Public Employees Retirement System, Columbus, committed $100 million to Tiger Consumer Partners, a long/short equity fund, confirmed spokesman Michael Pramik.
The commitment brings the $76.4 billion pension fund's total direct hedge fund investments to $3.22 billion. Hedge fund consultant Cliffwater assisted.
Also, the retirement system allocated an additional $75 million to Bridgewater Associates for its risk-parity program, giving the manager a total of $100 million. The other risk-parity managers — AQR Capital Management, BlackRock (BLK), First Quadrant and PanAgora Asset Management — are running $25 million each.
Separately, the retirement system hired BlackRock to run a $3 million short-term fixed-income fund in the target-date investment options of its $647 million 401(a) plan.