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KKR, Blackstone Sued Over Fund Sales to Kentucky Retirement System Pension Plan
Pensions & Investments 
Dec. 28, 2017
"The plaintiffs, including a retired state trooper and a firefighter, allege that the big asset managers misrepresented expensive and risky 'black-box' bundles of hedge funds as safe ways to generate high returns. Instead, those investments contributed to the pension system's virtual insolvency, the plaintiffs said, while the managers pocketed excessive fees."
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