Boston Pension Seeks Funds of Funds

Jun 20 2011 | 1:59am ET

Boston's municipal public pension plan is looking for a new fund of hedge funds manager to succeed Arden Asset Management.

State-Boston Retirement System has issued a request for proposals seeking one or more managers to run as much as $60 million for the $4.7 billion pension. The manager or managers would replace Arden, which was terminated in March due to personnel changes and other concerns.

Interested funds of funds must have a minimum of $600 million in assets under management, more than half of which should come from public pension funds outside of Massachusetts. State-Boston also requires a three-year audited track record and disclosure of underlying managers, and forbids the use of leverage.

Proposals are due on June 30. The RFP is available on consultant NEPC's Web site.

In Depth

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    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…