Milwaukee County Employees’ Retirement System authorized separate searches for managers of long/short equity funds of funds to manage a total of $120 million and hedged equity to manage $60 million.
The pension fund, which oversees $1.8 billion in assets, plans to issue RFPs for the two searches later this week or next week, posting them on its website.
K2 Advisors, which manages $95 million, and ABS Investment Management, which manages $93 million, currently manage long/short equity hedge funds of funds for the pension plan.
The pension fund’s “board decided to look at additional strategies to either complement or replace existing allocations to hedge funds,” said Raymond Caprio, assistant vice president, Marquette Associates, the pension fund’s investment consultant, in an e-mail. Marquette is assisting in the searches.
The board has yet to decide whether to retain K2 and ABS or adjust their allocations. Funding would come from the existing hedge fund allocations.
The board expects to make hiring decisions in March.
