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UK hedge fund Oceanwood wins $50 mln from Ohio pension fund

LONDON (Reuters) - Europe-focused hedge fund Oceanwood Capital Management has won a $50 million (29.16 million pounds) investment from School Employees Retirement System of Ohio (SERS), a nearly 3 percent boost to its $1.85 billion assets under management.

The investment marks a significant institutional backing for Oceanwood and is part of a combined $160 million commitment by SERS to three funds, including Redwood Offshore Fund and real estate fund PRISA II, a statement on the SERS website said.

Oceanwood, a multi-strategy hedge fund spinout from Tudor Group, is led by Chief Investment Officer Christopher Gate, a former Goldman Sachs executive.

The fund returned 22 percent last year, according to a source with knowledge of the fund's returns.

By comparison, similar European funds were up 10.3 percent last year, according to data from industry tracker Eurekahedge.

The hedge fund returned 3.4 percent through the end of May this year and has added more than $500 million to its assets under management so far this year, the source said.

A spokesman for Oceanwood declined to comment.

(Reporting by Nishant Kumar; editing by Simon Jessop)