Darien Hedge Fund Collapses, Threat to KY Pensions

`` Kentucky Retirement Systems, which manages about $13 billion in retirement funds investments and benefits for over 337,000 government employees, invested $100 million in Darien-based Arrowhawk Capital Partners over the past several years... According to the report, state officials were reluctant to continue investing in the fund after they learned that the placement agent had in 2010 collected more than $6 million in fees for brokering the transactions.''