Indiana Public Employees Retirement Fund, Indianapolis, hired its first hedge fund of fund managers. Blackstone Alternative Asset Management and Pacific Alternative Asset Management will handle $150 million each, and Dorchester Capital Advisors, $50 million. The hirings are subject to due diligence and legal review, said Jeffrey D. Hutson, director of communications for the $17.14 billion pension fund. Funding will come from a reallocation of the funds portfolios. Strategic Investment Solutions assisted.