St. Louis Public School Retirement System's board will vote June 20 on a recommendation by the investment committee to commit $17 million to Denham Oil and Gas Fund, managed by Denham Capital Management.
The committee made the recommendation at its April meeting, recently released committee meeting minutes said.
Kayne Anderson Capital Advisors was the other finalist in the invitation-only search.
Separately, the $822 million pension fund's investment committee, at its May 19 meeting, recommended hiring Grosvenor Capital Management as a multistrategy hedge fund manager to run $22 million. Funding comes from a $22 million hedge fund-of-funds portfolio formerly managed by Permal Group.
The change came as a result of Legg Mason's purchase of EnTrust Capital and the subsequent merger of its Permal Group subsidiary with EnTrust. That merger closed at the beginning of May.
The pension fund as of March 31 had two hedge fund-of-funds portfolios: $22 million with Permal Group and $20 million with EnTrust Capital. The committee recommended terminating the old Permal Group portfolio because of the redundancy.
Andrew Clark, executive director, did not return a phone call by press time.
