AQR Nabs San Mateo Pension's First Hedge Fund Mandate

Aug 11 2011 | 12:10pm ET

A Bay Area public pension has hired AQR Capital Management as the first manager in its new hedge fund portfolio.

The San Mateo County Employees' Retirement Association picked AQR's Delta Fund II after an exhaustive process during which the pension's board considered five different strategies and employed the assistance of both a consultant—Strategic Investment Solutions—and a hedge fund—Aetos Capital Management, which was employed to teach the $2.3 billion system's board and staff about funds of hedge funds.

Aetos was also considered for the mandate, HFMWeek reports.

Strategic Investment and the pension's board settled on a beta strategy, rejected index replication, multi-strategy and direct investments. San Mateo said it may revist the latter two at a later date.

San Mateo plans eventually to allocate 3% of its assets to hedge funds.


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

FATCA for Hedge Funds: Eight Common Pitfalls

Sep 1 2015 | 10:56am ET

FATCA is now a way of life for those in the financial industry and most professionals...

 

Editor's Note