Ohio Public Employees Retirement System, Columbus, hired York Capital Management and Taconic Associates to run $60 million each in direct hedge funds, confirmed Michael Pramik, system spokesman.
The hirings are the $78 billion system’s first in direct hedge funds.
The system in June said it planned to invest a total of about $1.2 billion in direct investments in single and multistrategy hedge funds.
In July 2010, the system established a new allocation of 3% to hedge funds, previously allocating a combined 3% to hedge funds and opportunistic funds. The system now also has a separate 2% allocation to opportunistic funds.