FRANKFORT — A hedge fund in which Kentucky Retirement Systems invested $100 million has failed and will be closing.
Arrowhawk Capital Partners of Darien, Conn., could not raise enough money from investors to succeed, said T.J. Carlson, KRS chief investment officer. KRS oversees $13 billion in retirement funds for state and local government employees.
KRS expects to get its $100 million back as Arrowhawk carefully unwinds its portfolio, Carlson said Thursday.
"That could change in the next few months, but as of right now, we do hope to get back the money we put in," he said.
Arrowhawk did not return a call seeking comment.
Read more here: http://www.kentucky.com/2012/01/05/2017395/hedge-fund-with-100-million-in.html#storylink=cpy
And who is Arrowhawk Capital Partner? Well, Morgan Stanley is involved.
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