Oklahoma Police pension fund makes direct hedge fund commitment
By Kevin Olsen | January 17, 2013 12:39 pm
Oklahoma Police Pension & Retirement System, Oklahoma City, committed $7.5 million to Hoplite Offshore Fund, a global long/short equity hedge fund managed by Hoplite Capital Management, confirmed Steven Snyder, executive director and chief investment officer at the pension fund.
Funding is coming from the redemption of an Attalus Capital hedge fund of funds as part of the $1.9 billion pension fund’s move into direct investing in hedge funds. Grosvenor Capital Management also manages $150 million in a fund of funds and provides back-office work and due diligence on direct hedge fund investments.
Grosvenor and investment consultant Asset Consulting Group recommended Hoplite, Mr. Snyder said in a telephone interview.
This is the pension fund’s fifth direct hedge fund investment. The pension fund plans to invest a total of $100 million in 12 to 15 managers by the end of the third quarter, Mr. Snyder said.
Separately, Mr. Snyder said the pension fund returned 12.2% for the year ended Dec. 31 and 6.5% for the fiscal year to date, which ends June 30.