Philadelphia Public Employees Retirement System selected Goldman Sachs...

Philadelphia Public Employees Retirement System selected Goldman Sachs Asset Management, K2 Advisors, Mesirow Financial and Private Advisors as finalists in its search for a directional hedge fund manager to run $54 million, said Christopher McDonough, investment officer for the $4.2 billion fund. The system's board will likely select at least one of the managers at its Sept. 1 meeting. Mr. McDonough said. The funding source has not been determined.