Pompano Beach (Fla.) Police & Firefighters' Retirement System invested a total of $3 million in a global long/short credit fund managed by BlackRock and a multistrategy hedge fund managed by Blackstone Group.
The $217 million pension fund's board approved the investments at its April 27 meeting, recently released meeting minutes show.
The pension fund classifies the investments as liquid alternative investments and funding comes from cash. Further information on the asset class and allocation could not be immediately learned.
Investment consultant Graystone Consulting assisted.
Debra Tocarchick, executive director, could not be immediately reached for further information.