Orange County picks hedge fund-of-funds finalists

Orange County Employees Retirement System, Santa Ana, Calif., named BlackRock Alternative Advisors, Grosvenor Capital Management, Pacific Alternative Asset Management and Union Bancaire Privee Asset Management as finalists in its search for up to two hedge fund-of-funds managers to run a total of $200 million. The $8 billion system’s board is expected to select up to two managers at its Feb. 7 meeting. Funding will come from cash. No RFP was issued. Callan Associates is the consultant.