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

Q&A: Neil Azous Talks Global Macro Investing

Nov 24 2014 | 12:41pm ET

Neil Azous is the founder and managing member of Rareview Macro, an advisory firm...

Lifestyle

Cohen Buys $101 Million Sculpture

Nov 12 2014 | 9:17am ET

Steven Cohen was the sole bidder for a rare Alberto Giacometti sculpture at Sotheby...

Guest Contributor

Why The Big Money Is Going To Europe

Nov 14 2014 | 6:03am ET

Peer-to-peer lending was invented with the individual investor in mind. But despite...

 

Sponsored Content

    For Hedge Funds, Mastering Data Is Key To Success

    Nov 4 2014 | 9:45am ET

    Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

November 2014 Cover

Building a better market

Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.