The Louisiana State Employees’ Retirement System (LASERS) is once again putting merger arbitrage on its investment plate. This time around, the $6.5 billion pension fund has selected two New York arb shops in which to invest $32.5 million apiece-Kellner, DiLeo & Co. and Arnhold and S. Bleichroeder Inc. Two years ago, Kellner came in second for a LASERS infusion behind Halcyon/Alan B. Slifka Management Co., which received $50 million from the fund.
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