Subject: sign of the times....
From: "Arlene Busch" <[email-masked]>
To: <[email-masked]>, <[email-masked]>
Cc: "Arlene Busch" <[email-masked]>
Date: Wed, 12 Sep 2012 09:59:24 -0600

Aksia to move ahead with Orange County's pension to direct investment in hedge funds
From PIonline.com: ...In other action, Aksia, the pension fund's hedge fund consultant is moving forward with Orange County Employees Retirement System's (OCERS) plan to switch to direct investment in hedge funds from a hedge funds-of-funds approach. Aksia expects to present three to five event-driven managers to OCERS investment committee in October, three to five relative-value long/short credit manager finalists in December, and three to five tactical trading/global tactical asset allocation managers in February.

The goal is to initially hire six to 10 managers in the first two quarter of next year; each will manage 4% to 10% of the target $665 million hedge fund allocation, according to an Aksia report at the investment committee's Aug. 29 meeting. Funding will come from redeeming existing hedge funds-of-funds manager portfolios. OCERS' existing hedge funds of funds are Bridgewater Pure Alpha Fund II, BlackRock QIP and Pacific Hedged Strategies...

Arlene Busch
312-498-9595 mobile
[email-masked]<mailto:[email-masked]>