Vermont Seeks Portable Alpha Managers

Oct 12 2007 | 10:50am ET

The Vermont Pension Investment Committee is seeking proposals from investment management firms to manage a portable alpha mandate for the Vermont State Retirement System’s $3.3 billion defined benefit pension plan.

The mandate for a Lehman Aggregate Index Portable Alpha Program will be for approximately $210 million.

In order to be considered, firms’ portable alpha products must have minimum assets under management of at least $200 million as of the end of August, be bundled complete with the alpha source and beta management, and possess a live, GIPS-compliant, alpha track record that is at least three-years long as of the end of June. Last, but not least, the system said the use of any hedge fund strategies for any part of the portable alpha mandate will not be considered.

The deadline for request for proposal, which can be found on the system’s Web site, is Oct. 29 at 4:00 p.m. Eastern time.

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