Ohio Public Employees’ Retirement System, Columbus, moved another $180 million to direct hedge funds as part of its effort to commit a total of $1.2 billion to the asset class, confirmed spokesman Michael Pramik in an e-mail.
The $78 billion system hired Och-Ziff Capital Management to run $120 million and Davidson Kempner Institutional Partners to run $60 million.
Last month it hired York Capital Management and Taconic Associates to run $60 million each. The system in June announced plans 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. The system had previously only invested in hedge funds of funds.