State Teachers Retirement System of Ohio, Columbus, plans to add $250 million to $500 million to its alternative investment portfolio; it will also consider ways to move externally managed money from its domestic equity portfolio in-house, according to its 2006 investment plan. Laura Ecklar, a spokeswoman for the $54.6 billion fund, would not provide comments by press time.
According to the investment plan, the fund will work on filling its 5% alternatives allocation - which includes global and domestic private equity funds, venture capital funds and energy, distressed debt and hedge funds - over the next fiscal year ending Aug. 31, 2006. Currently, the fund expects to have a 2.5% weighting to alternative investments over the next fiscal year.
The plan uses about 45 outside money managers, apart from its alternative investment managers, according to the Money Market Directory.