Ohio State Highway Patrol Retirement System, Columbus, added allocations of 5% each to hedge funds and private equity, the $700 million fund's first exposure to both asset classes, and will search for managers in the first quarter. Funding came from trimming the system's domestic equity portfolio to 44% of total assets from 48%; its core-plus fixed income portfolio to 22% from 25%; and its real estate portfolio to 9% from 12%, said Richard Curtis, executive director. The fund's 15% allocation to international equity remains unchanged. The move is the result of a recently completed asset allocation study. Mr. Curtis added that there is no timeframe for hiring managers.