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.”
Albourne said it expected to issue requests for information from hedge fund managers in connection with the Missouri teachers’ retirement system “in due course.”
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