Wednesday, 29 March 2017
Last updated 24 min ago
Apr 30 2012 | 11:00am ET
A pair of San Jose, Calif., public pension funds was in New York earlier this month—and will be back in a week—as it begins its search for its first hedge fund managers.
Representatives of the San Jose Public Police & Fire Retirement Plan and the San Jose Federated City Employees Retirement System visited New York-area hedge funds the week of April 16 and will return the week of May 7 to continue. It's just the beginning of a tour of the hedge fund world for the $4.3 billion plans, which will visit Bermuda; Boston; Dallas; Greenwich, Conn.; London and Minneapolis between now and July as they seek to fill the $800 million allocation.
The two plans expect to invest in between 18 and 20 managers with mandates of between $30 million and $50 million, HFMWeek reports. The pensions are looking at multi-strategy, relative value, event-driven, long/short equity and macro/directional hedge funds.