Fort Lauderdale (Fla.) Police & Fire Retirement System hired hedge fund-of-funds manager EnTrust Capital to run $23 million, confirmed Fred Nesbitt, director of public information.
The $503 million pension fund had terminated K2 Advisors from a long/short portfolio of the same size in May after the fund decided to exit long/short strategies.
Investment consultant CapTrust Advisors created a shortlist of traditional hedge fund-of-funds managers to run the portfolio. Lighthouse Partners and SSARIS were the other finalists.
