Louisiana State Police boosts fund-of-funds manager allocations

Louisiana State Police Retirement System, Baton Rouge, added a total of $18 million to existing hedge fund and private equity fund-of-fund managers, said Irwin L. Felps Jr., executive director.

The $594 million pension fund added $10 million to private equity fund-of-funds manager Portfolio Advisors, giving the manager a total of $20 million.

The pension fund also added $5 million and $3 million, respectively, to hedge fund-of-funds portfolios managed by Prisma Capital Partners and EnTrust Capital, giving each manager about $15 million. It brings the pension fund up to its 5% target to hedge funds of funds, Mr. Felps said.

Funding comes from cash.

Investment consultant UBS Prime Asset Consulting assisted.