OCERS Names Finalists For Fund of Hedge Funds Mandate

Dec 19 2007 | 8:59am ET

The $7.9 billion Orange County (Calif.) Employees Retirement System is in the final stages of its search for fund of hedge funds managers.

According to minutes from the system’s meeting, OCERS’ investment committee met last month to whittle down its list to five managers: EACM Advisors,  Grosvenor Capital Management (USA), Pacific Alternative Asset Management, Quellos Capital Management and Union Bancaire Privee Asset Management, and has instructed its staff to being due diligence on the finalists. 

A source with knowledge of the search said there is no deadline for the due diligence process, but expects that the system will begin the process shortly.

Orange County in March increased its allocation to absolute return strategies from 5% to 7% to allow for greater diversification and provide different sources of return for its overall portfolio. At the time, OCERS’s chief investment officer, Shanta Chary, said that the system was looking to allocate between $150 million to $200 million to an unspecified number of managers.

The system currently also has a 5% allocation to private equity fund of funds managers.


In Depth

Q&A: Fund Administration Comes To The Cloud

Jul 14 2017 | 7:23pm ET

The fund administration sector has been steadily implementing new technology, such...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Rastegar: PE Real Estate Gains Momentum as Uncertainty Rises

Jul 21 2017 | 6:04pm ET

The steady march of equity markets and fundamental shift in the direction of Fed...

 

From the current issue of