Hedge Funds
The plan also renewed several of its investment consulting contracts at today’s board meeting.
The pension plan recently made two commitments totaling $548.9 million.
The investment board’s current consultant will see its contract expire in June.
Report finds artificial intelligence advancements have improved how hedge funds invest, but human judgment remains vital to investment decision making.
The retirement system previously authorized a change to its $37 million investment with the hedge fund manager at a Feb.19 meeting.
The retirement system also made several changes to its public equity and real estate portfolios last week.
The retirement system will also consider several changes to its public equity and real estate portfolios this week.
Funding for the new investment comes from the partial redemption of another hedge fund manager.
The $50 million investment concludes a search for an additional long/short strategy initiated late last year.
The retirement plan was notified of five commitments totaling roughly $1 billion last week.