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Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

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Illinois Pension Fund Keeps Grosvenor Cap as FoHFs Manager

Dec 08, 2013
Jing Chen

The Illinois Teachers’ Retirement System has selected Chicago-based hedge fund firm Grosvenor Capital Management to oversee the pension’s fund of hedge fund investments.

Chicago Business reported that TRS chose Grosvenor over Connecticut-based K2 Advisors because it was a “better current fit.” Grosvenor, which has been managing the pension fund’s fund of hedge fund investments along with K2, has even offered to keep its current fee unchanged despite taking on additional work.

The article added that TRS decided earlier this year to keep just one of the firms because it began to decrease its investments in fund of hedge funds and increase its allocation in direct hedge funds.

Separately, TRS announced on Friday that London-based Albourne Partners will advise the pension fund on its hedge fund investments.

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