Friday, 30 September 2016
Last updated 25 min ago
Aug 13 2008 | 10:39am ET
The $13 billion Montana Board of Investments has issued a request for proposal for fund of hedge funds managers through separately-managed accounts or commingled fund of funds.
To be considered for the mandate, firms must be registered with the Securities and Exchange Commission, have at least $3.5 billion of assets under management in actively-managed, multi-manager hedge fund through separately-managed accounts or a commingled fund of hedge funds, and have a five-year track record.
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.