Texas Pension Plan Seeks Hedge Fund Consultant

Nov 8 2010 | 6:59am ET

The Employees Retirement System of Texas is searching for a hedge fund consultant to help implement the pension plan’s absolute return program.

The $22 billion ERS on Friday announced its request for proposals for a consultant, which will be tasked with overseeing “program development, customized portfolio construction, ongoing risk management and reporting, identification of investment opportunities, screening and partnership due diligence, and general assistance related to the program.”

To quality for the mandate, firms must be registered investment advisors, have a minimum five-year history of providing hedge fund advisory services to clients of similar asset size to ERS, demonstrate continuity of key personnel, have large public fund experience, and offer a reasonable fee schedule.

Proposals are due Nov. 30.. The RFP can be viewed here (PDF).


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Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

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