Kentucky Pension Sues Over ‘Black-Box’ Hedge Funds

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Kentucky Pension Sues Over ‘Black-Box’ Hedge Funds

Eight Kentucky government employees and retirees filed a lawsuit in the County of Franklin Circuit Court this week, seeking to recover losses from products three hedge fund managers sold to the Kentucky Retirement System. The plaintiffs are seeking damages from Blackstone Group, KKR & Co./Prisma Capital Partners and Pacific Alternative Asset Management Co. for selling “custom-designed…

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