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From Precy Dumlao, Opalesque Asia:
The State – Boston Retirement System, with $4.7bn in assets, is in the hunt for one or more hedge fund-of-fund managers for an allocation of at least $60m.
The announcement was made through an RFP posted on the Web site of the employee-owned NEPC, LLC, one of the industry’s largest independent, full-service investment consulting firms. NEPC is consultant to the State-Boston Retirement System.
According to the announcement, hedge fund-of-funds that want to qualify for the mandate, must have at least $600m in assets under management as of the end of March, 31, 2011. The fund manager must also have a three-year track record from the industry.
Other qualifications include:
- Massachusetts public funds (including potential mandates) do not exceed 50% of the strategy assets under management
There is no leverage employed at the portfolio level
The firm is willing to disclose names of all underlying managers. The firm is willing to provide transparency consistent with industry best practices, to disclose other public fund investors, when available, and to complete the PERAC Disclosure Forms, which is a disclosure of existing financial arrangements. The PERAC Disclosure form...................... To view our full article Click here
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