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The Odd Couple: Hedge Funds and Corporate Pension Plans

Why hedge funds and corporate pension plans are an asset-liability match made in heaven.

      Illustration by Sam Island.  Hedge funds probably don’t jump to mind as being bedfellows with corporate defined benefit plans. But they’ve kept a home in companies’ pension portfolios even after other investors abandoned the strategy due to performance concerns. Brad Smith, a partner at consulting firm NEPC, estimates that more than

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