Ohio Highway Patrol Seeks Fund Of Hedge Funds

Oct 6 2008 | 8:52am ET

At least one public pension fund isn’t afraid to test the murky waters of the hedge fund space. The Ohio Highway Patrol Retirement System has issued a request for proposals for funds of hedge funds to manage a $30 million mandate.

The $750 million plan is looking for a fund of funds shop with a well-diversified portfolio of hedge funds across sectors and strategies. The RFP specifies that, while underlying managers may employ modest leverage and engage in short-selling, the fund should not use leverage to magnify returns.

Interested firms must be a registered with the Securities and Exchange Commission, have at least $1 billion in assets under management and at least $500 million in the fund of funds product offered, and have been in business for at least five years.

The deadline for the RFP, which can be accessed on the plan’s Web site, is Oct. 10.

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