Fire and Police Pension Association of Colorado, Greenwood Village, increased its portable alpha allocation to about 4% of assets by putting an additional $30 million in the Gottex Market Neutral Fund for a total of $92 million, said Bill Morris, CIO of the $3.5 billion fund. Fund officials will consider further additions to the asset class later this summer. Funding comes from reducing a $580 million Russell 1000 index fund run by SSgA.
Separately, the fund will search for a manager to run $50 million in active domestic small-cap value equities, Mr. Morris said. Incumbent Brandywine Global Investment Management, which is currently on watch for performance, will be invited to rebid. A selection will likely be made in late summer or fall. Brandywine spokesman Peter Jensen was not able to comment by press time.
Pension Consulting Alliance is assisting.