Colorado Fire, Police Pension Wants Fund of Hedge Funds

Jan 15 2008 | 1:00am ET

The $3.5 billion Fire and Police Pension Association of Colorado has begun a search for a fund of hedge funds manager to add to its existing alternative investment portfolio. The new mandate is benchmarked against the 90-day Treasury bill or LIBOR.

FPPA does not permit its fund of hedge funds managers to use leverage at the fund level and aggregate leverage of underlying funds should not exceed 2.5 times. The minimum initial funding for the mandate will be roughly $50 million.

The fund of funds shop responding to the request for proposal should have at least 36 months of “live” returns in the fund of hedge funds product. The firm should manage at least $1 billion in total assets under management and at least $300 million in assets in the specific fund of funds, which should have outperformed the 90-day T-bill or LIBOR over the trailing three-year period ending Dec. 31, 2007.

The deadline for the RFP, which can be accessed at FPPA’s Web site, is Feb. 1 at 5 p.m. Pacific time.


In Depth

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.