Colorado Fire & Police Pension Association, Greenwood Village, invested $30 million in the long/short equity hedge fund strategy Senator Global Opportunity Fund managed by Senator Investment Group, confirmed Dan Slack, CEO of the $3.1 billion pension plan.
The Senator fund is a flexible mandate with credit and equity abilities, Mr. Slack said in a telephone interview.
“They have the ability to produce market-like returns in benign conditions, and we are expecting them to move out and preserve value when there are less-than-regular returns that might take place in market disruptions,” Mr. Slack said. “We really think one of the strengths Senator demonstrates is avoiding crowded trades.”
Funding will come from rebalancing passive global equity mandates.
Pension Consulting Alliance and Albourne Partners assisted with the internal search.