The Ohio State Highway Patrol Retirement System , Columbus, is...

The Ohio State Highway Patrol Retirement System, Columbus, is considering a search for a "hedge fund-like" manager to handle up to $35 million, said Richard Curtis, executive director. The $700 million fund canceled its February search for an hedge fund manager because it could not find suitable candidates. "We got 24 proposals from individual hedge funds, and we determined that they did not offer a diversified strategy, they did not have sufficient longevity of business and in some cases used too much leverage," he said. One of the asset classes fund officials are exploring instead is global tactical asset allocation, he added. The fund's board will discuss the issue the week of July 18.