Ohio School Employees Retirement System, Columbus, committed up to $300 million to several hedge funds, all to receive up to $50 million each: Aristeia International, Bridgewater Pure Alpha I, Fore Convertible Offshore, Lydian Overseas Partners, PIMCO Absolute Return Strategy III Offshore and Stark Offshore Managements Shepherd Investments International.
The $11.6 billion fund also allocated up to $50 million to the Five Arrows Realty Securities V fund, managed by Rothschild Realty Managers; up to $40 million to Graham Partners III private equity fund; and up to $30 million to Swander Pace Capitals SPC Partners IV private equity fund.
Funding for all the commitments will come from cash, said spokeswoman Julie Graham-Price.
Separately, the system is looking for a core-plus fixed-income manager to run up to $200 million, Ms. Graham-Price confirmed. Other fixed-income managers portfolios will be trimmed to fund the move; no managers will be terminated.