The board of City of Knoxville Employee Pension Fund has appointed Prisma Capital Partners, HFMWeek reports. Prisma has been hired to replace the fund’s recently terminated hedge fund manager, Cadogan Management.

The board is looking to allocate $10 million to the new manager. Currently, Knoxville commits $10 million to Blackstone Alternative Asset Management, which was appointed to replace UBP in August 2010.

Click here for the story from HFMWeek.