Tuesday, 1 September 2015
Last updated 5 hours ago
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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…