Thursday, 26 November 2015
Last updated 16 hours ago
May 11 2007 | 11:36am ET
The $4 billion State-Boston Retirement System this week issued a request for proposals for an investment management firm to handle a fund of hedge funds mandate. The system may place up to $280 million with funds of hedge fund managers, with an allocation of no more than $80 million to any one manager.
In order to be considered, each firm’s fund of hedge funds product must have a minimum of $800 million in assets under management as of Dec. 31, 2006, a three-year audited track record and historical annual volatility not exceeding 7.5%. Also, investments in Massachusetts public funds (including potential mandates) should not exceed 50% of the assets under management and there should not be any leverage employed at the portfolio level. Managers must disclose the names of all underlying managers. While not a requirement, funds of hedge funds registered with the Securities and Exchange Commission are preferred.
Investment managers selected must have familiarity with and agree to comply with the hedge fund investment guidelines administered by the PERAC.
Requests for RFP forms should be e-mailed to email@example.com no later than May 18. Proposals are due May 31.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…