MassPRIM Seeks Transition Manager For Fund Of Funds Switch

Apr 11 2012 | 12:50pm ET

The Massachusetts Pension Reserves Investment Management Board is looking for a little help in its big transition from funds of hedge funds to direct hedge fund investing.

The $49.8 billion public pension plans to move some $2.8 billion from four funds of funds to its direct program over the 15 months. And now it's issued a request for proposals for transition management services.

Interested parties have until Monday at 3 p.m. to submit their proposal. MassPRIM and its consultant, Cliffwater, will pick a manager by the end of the month, Pensions & Investments reports.

The MasPRIM board earlier this month voted to redeem its investments from Arden Asset Management, Grosvenor Capital Management, K2 Advisors and Rock Creek Group. When the transition is complete, in July 2013, MassPRIM will have only one fund of hedge funds manager, Pacific Alternative Asset Management.


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Quattrex Sports AG Debuts Soccer-Focused UCITS Fund

Sep 9 2016 | 9:54pm ET

Innovative alternative investment company Quattrex Sports has unveiled a new UCITS...

Guest Contributor

Malik: The Ever-Changing Middle Market and The Entering Class of 2016

Sep 2 2016 | 5:01pm ET

Deal sourcing and origination is only going to get more competitive given current...