Philly Seeks Single-Manager Hedge Funds

Jul 22 2010 | 12:45pm ET

Philadelphia’s city pension plan is looking for as many as a dozen hedge fund managers to fill up to $140 million in mandates.

The City of Philadelphia Municipal Pension is seeking single-manager funds across an array of strategies for a series of $10 million to $15 million mandates, HFMWeek reports. The pension also hopes to hire a hedge fund officer for its investment team.

The Philadelphia Board of Pensions and Retirement recently increased the $3.5 billion fund’s hedge fund allocation to 10%, from 6%.

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