JEFFERSON CITY, Mo. (HedgeWorld.com)–The Public School & Education Retirement System of Missouri hired Albourne Partners to help the US$27 billion pension fund allocate money to hedge funds.
Craig Husting, chief investment officer for the fund, couldn’t provide many details, but said the fund hired Albourne as a consultant. He said a US$600 million figure for the future hedge fund allocation, a number cited by Albourne in announcing its hiring, was subject to change.
“We haven’t decided anything,” Mr. Husting said.
In a news release posted on its Albourne Village site, Albourne’s head of U.S. client services, David Harmston, said “We see this as a result of peer group confidence. Institutions get no greater comfort than from talking to each other. This process is naturally cumulative; the more that do, the more that will.”