The Kentucky Retirement Systems has appointed Blackstone, Pacific Alternative Asset Management and Prisma Capital Partners to manage $1.2 billion, Pensions & Investments reports. The three hedge fund-of-funds managers will manage $400 million each.
The new allocation is part of the system’s new absolute-return asset class, which has a target allocation of 10%. RV Kuhns, the system’s general consultant, assisted in the appointments. The system also appointed Columbia Asset Management and Loomis Sayles to manage $215 million each in high-yield fixed income.
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