Milwaukee County Employees Retirement System is planning to divest $17 million from two fund of hedge funds.
Pensions & Investments reported that the retirement system is pulling $9.5 million from ABS Investment Management, and $7.5 million from K2 Advisors. The transaction would leave the system’s hedge fund allocation to 10% of its total investment portfolio from its current 11%.
The article added that ABS Investment and K2 are the retirement system’s sole hedge fund allocations.
The system’s board will decide what to do with the proceeds in December or January.
The retirement system manages about $1.7 billion in defined assets for employees.