The San Bernardino County (Calif.) Employees’ Retirement Association is going to take its time hiring a team of long/short equity hedge funds.
The $5.1 billion pension has extended the search period for the five or six mandates until April 30, Pensions & Investments reports.
San Bernardino plans to award the mandates of between $25 and $30 million apiece—a total of $150 million—this summer. The allocations will be the pension’s first in equity long/short hedge funds.
Interested parties are directed to contact the pension’s investment consultant, NEPC; San Bernardino has not issued a request for proposals. The pension has said it is seeking high-alpha managers.