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Spokane Employees invests in Angelo Gordon hedge fund

Spokane (Wash.) Employees’ Retirement System made a direct hedge fund investment of $10 million in AG Super Fund, a multistrategy fund managed by Angelo Gordon & Co., said Phillip Tencick, retirement director.

It is the $290 million pension fund’s first investment in a fund managed by Angelo Gordon. The investment will be allocated to the pension fund’s 7% opportunistic credit target. As of March 31, the actual allocation was 3.1%.

Investment consultant Hyas Group assisted.