Reuters – Pension funds will likely funnel more money into hedge funds and become a powerful engine of growth for the industry in the coming months, a hedge fund industry veteran said on Wednesday.

"We are finding that corporate pension funds are looking at hedge funds for allocations for their equity exposures, said Carrie McCabe, chief executive of Lasair Capital LLC, a firm that creates portfolios of hedge funds for clients.

McCabe, who cemented her reputation in the hedge fund industry while running Blackstone Alternative Asset Management and FRM Americas, described a real urgency to pension funds’ desire to beef up their returns with hedge funds in a hurry.

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Reuters – Lasair Capital, a hedge fund industry newcomer that boasts General Electric Co as its blue-chip backer, said on Tuesday that it has hired a senior investment officer to help put $180 million to work.

Carrie McCabe, who founded Lasair as a "next generation" hedge fund firm earlier this year, told investors that Jennifer Coffey will now help select hedge funds as well as infrastructure and timber assets for clients.

"Jennifer will report directly to me and I will continue to oversee all investment decisions," McCabe, who cemented her reputation in the hedge fund industry while running Blackstone Alternative Asset Management and FRM Americas, told clients.

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