Philadelphia pension board invests in 2 credit hedge funds

Philadelphia Board of Pensions and Retirement made two direct investments in hedge funds totaling $60 million.

According to recently released investment committee meeting minutes, the $4.5 billion pension fund invested $30 million each in Archview Offshore Fund, managed by Archview Investment Group, and Kildonan Castle Partners Global Credit Opportunity Fund, managed by Kildonan Castle Asset Management, both credit hedge funds.

Investment consultant Cliffwater assisted.

Phone calls to Brad Woolworth, deputy chief investment officer of the pension board, and Francis X. Bielli, executive director, were not returned by press time.

Related Articles
Philly fund picks structured equity, credit funds
Philadelphia pension board invests with Mason Capital
Philadelphia Board of Pensions invests $40 million with Blue Harbour
Philadelphia pension board hires 9 managers to manage combined $290 million
Philadelphia pension board signs 2 managers
Hearing on proposed sale of Philadelphia Gas Works postponed
Philadelphia Board of Pensions earmarks $60 million for Veritas
Philadelphia Board of Pensions and Retirement's CIO resigns
Recommended for You
two businesswomen shake hands across a table
Japanese giant Nomura buys Macquarie's U.S., Europe public asset management businesses for $1.8 billion
Silhouette of three graduation caps held in the air against a dusk sky.
Taking hits from all sides, endowments may be forced to embrace more risk
Blocks with the M&A written on them sitting on top of a keyboard.
AMG to take minority stake in multistrategy boutique manager Verition