Montana To Explore Hedge Funds Via RFP

Jun 18 2008 | 2:00am ET

The $12.3 billion Montana Board of Investments is issuing a request for proposals for fund of hedge funds managers. Sort of.

The system’s executive director, Carroll South, and chief investment officer, Clifford Sheets, both recommend that the board authorize its staff to issue an RFP “without making any commitment to fund the managers, unless the board approves an allocation,” according to an internal memo.

The RFP will serve to enlighten the staff on hedge fund strategies and historical performance versus other asset classes, as well as help the staff in making a recommendation to its board on whether or not to enter into the asset class at its August meeting.

The RFP will also serve to stem the wave of solicitations from hedge fund managers who anticipate the board’s first foray into the asset class, according to the memo.

In February, funds of hedge funds Grosvenor Capital Management and Blackrock Alternative Advisors gave a presentation to the board, drawing praise for the asset class from a few board members and prompting others to call for a cautious, deliberate approach.


In Depth

Israeli Hedge Fund Harnesses Big Data

Jul 28 2014 | 8:10am ET

Apica Green is a multi-million dollar Israeli hedge fund that is based in Tel Aviv...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

The Truth About Track Record Portability

Jul 24 2014 | 5:55am ET

The number of private funds converting to mutual funds has increased significantly...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note