Springfield (Mo.) Police Officers' & Firefighters' Retirement System invested $30 million in Blue Ocean Onshore Fund, a hedge fund managed by EnTrust Global, said Janell Manley, administrative director, in an email.
The $440 million pension fund allocated the investment to its multiasset-class portfolio, which has a target of 5%.
The Blue Ocean Onshore Fund invests in special situations underserved by maritime lenders, including debt financing to privately owned shipping companies.
Investment consultant Segal Marco Advisors assisted.