St. Louis County Retirement Plan, Clayton, Mo., has recommended hiring hedge funds-of-funds managers Corbin Capital Partners and Titan Advisors to run $13 million each, said Kirk McCarley, plan administrator at the $520 million pension fund.
The hirings are contingent upon final approval from the St. Louis County Council, said Mr. McCarley in a telephone interview. A timetable for approval has yet to be determined.
The retirement plan's board of trustees approved the recommendation by investment consultant Summit Strategies Group at its March 28 meeting.
Funding will come from rebalancing. No managers will be terminated.