The $273 million Town of Fairfield Joint Retirement Investment Board has awarded its first $9 million commodities mandate to Brevan Howard, HFMWeek reports. Other two firms shortlisted for the mandate were GE Asset Management and Invesco.
The board jointly manages the investments of both the Town of Fairfield Employees Pension Fund and the Town of Fairfield Police & Firefighters Pension Fund. The board is also planning to make two further $5 million allocations to a single hedge funds manager and is in discussions with Addison Clark Management regarding the same.
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