(Reuters) Massachusetts, already a large investor in some of the world’s biggest hedge funds, wants to hire an adviser to help find smaller managers that could improve the $63.2 billion state pension fund’s risk and return profile.
The Pension Reserves Investment Management Board on Tuesday voted to issue a request for proposals for advisers to assist in developing an Emerging Hedge Fund Managed Account program, taking what may be a first step to adding fresh hedge funds to its lineup that already includes 28 firms ranging from Glenview Capital Management to Pershing Square Capital Management.
