Omaha (Neb.) Police and Fire Retirement System hired Corbin Capital Partners to run a $21 million hedge fund-of-funds portfolio, said Stephen Curtiss, city finance director and member of the board of trustees.
The $593 million pension fund conducted a shortlist search earlier in the year for its first hedge-fund-of-funds manager. Finalist information is not being disclosed.
Funding comes from rebalancing, and no managers were terminated, Mr. Curtiss said.
Investment consultant DeMarche Associates assisted.