One month after issuing a request for information on direct private equity investing, the board of the $710 million Worcester (Mass.) Retirement System is further expanding its foray into alternatives. This time around, the system has issued a proposal for portable alpha strategies that employ diversified funds of hedge funds as the “alpha engine.”
The system intends to fund the portable alpha strategy with approximately $5 million to $15 million. The deadline for the request for proposals, which will be available after Dec. 6 at Meketa Investment Group’s Web site, is Jan. 11.
Gabriel KurlandBy Gabriel Kurland: On November 12, 2009, the U.K.’s Serious Fraud Office (“SFO”), an independent government department that investigates and prosecutes fraud and corruption cases, announced that it is probing the London-based, Dynamic Decisions Capital Management Ltd., after the matter was referred to it by the Financial Services Authority. More...
Ireland has launched the EUR 26 million ($40 million) Bank of Ireland Seed and Early Stage Equity Fund to invest in startup and early stage companies. More...