The Massachusetts Pension Reserves Investment Management board is seeking a firm to provide general consulting services and/or funds of hedge funds consulting services to the $39 billion pension fund.
Firms interested in the funds of hedge funds mandate will be required to provide consulting services to PRIM in absolute return and portable alpha allocation strategies, evaluation, planning, reporting, analysis, and manager due diligence and oversight.
The minimum criteria for the funds of hedge fund mandate includes the following: As of Oct. 31, the firm must provide consulting services to existing pension clients whose assets aggregate to at least $10 billion; and the consultant must have at least three years combined experience in serving public pension funds, private pension funds, endowments, and/or foundations.
The deadline for proposals is Jan. 23.
Cliffwater is PRIM's general consultant and Hamilton is its alternative investment consultant.
Mass. PRIM’s current roster of funds of funds include Arden Asset Management, Ivy Asset Management, K2 Advisors, Pacific Alternative Asset Management Company, and The Rock Creek Group.