Baltimore Fire & Police Employees' Retirement System made two new direct hedge fund investments totaling $48 million.
The $2.9 billion pension fund invested $30 million in KKR Global Credit Opportunities Fund, long-only fund that invests in corporate and structured credit, managed by KKR & Co., and $18 million in Nut Tree Master Fund, an event-driven fund focused on distressed, stressed and value-oriented situations managed by Nut Tree Capital Management, said Amy E. Baskerville, spokeswoman, in an email.
As of Dec. 31, the actual allocation to hedge funds was 10.5%.
Investment consultant NEPC assisted.
