Ohio Seeks Hedge Fund Consultant

Aug 4 2010 | 2:47am ET

The Ohio Public Employees Retirement System is planning a larger hedge fund allocation, and it needs help. The $65.7 billion public pension fund is seeking a hedge fund consultant to assist in the implementation of its new strategy.

The PERS board in May approved a plan to invest 3% in hedge funds and 2% in opportunistic funds, an increase from 3% devoted to both. Last month, it approved a tentative funding schedule, Pensions & Investments reports. The pension will conduct the consultant search in the fourth quarter or the first quarter of next year, with staff recommendations on fund of hedge funds managers towards the end of this year and single-manager hedge funds next year.

As many as 23 hedge fund managers could eventually hired by PERS. Up to three fund of funds managers will be given between $267 million and $400 million each and up to four multistrategy funds will be given between $100 million and $200 million each. As many as 16 single-strategy managers will each get between $50 million and $100 million. All told, the Ohio plan could hand out some $2 billion to hedge fund managers.


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR