Worcestor Seeks Portable Alpha

Nov 30 2007 | 10:22am ET

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.

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