Boston Seeks Fund Of Funds Managers For $280M

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 publicfundresponse@nepc.com no later than May 18. Proposals are due May 31.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of