Searches and Hires

Pennsylvania Public School sets $300 million for weather, mortgage credit funds

Pennsylvania Public School Employees' Retirement System, Harrisburg, committed a total of $300 million to two alternative funds, documents from the $52.7 billion pension plan show.

The board agreed to commit up to $150 million to Nimbus Weather Fund, a hedge fund focused on weather risk managed by Nephila Capital.

The pension fund at its Sept. 15 meeting also committed up to $150 million to Galton Onshore Mortgage Recovery Fund IV, a mortgage credit fund managed by Galton Capital Group, a boutique of Mariner Investment Group.

Aksia recommended both commitments. Aksia is the pension fund's hedge fund consultant and also provides due diligence on credit investments.