Ohio Public Employees Retirement System, Columbus, will issue an RFP...

Ohio Public Employees Retirement System, Columbus, will issue an RFP Tuesday for two to three hedge fund-of-funds managers to run a total of $25 million to $50 million, marking its first hedge fund allocation, said Richard Baker, spokesman for the $64.5 billion plan. Candidates must manage at least $250 million in hedge fund assets. The search is part of a $100 million "opportunistic" allocation created late last year for investments that provide excess returns and have a low correlation to the broad markets, he said. The RFP will be available at www.opers.org. Proposals will be due March 31, and semifinalists should be selected by the end of April. Ennis, Knupp will assist.