Unlike Louisiana Public Pensions, Some Fletcher Hedge Fund Investors Got Money Out

In June 2013, I wrote that three Louisiana public pensions, the Louisiana Firefighters' Retirement System, the Municipal Employees' Retirement System and the New Orleans Firefighters' Pension and Relief Fund had filed a lawsuit related to their $100 million investment in a New York hedge fund managed by Fletcher Asset Management which promised a guaranteed 12 percent return. Even more unbelievable, the pensions were told that if the Fletcher fund returned less than 12%, an unnamed financial back...