Montana Board of Investments, Helena, issued an RFP for a hedge fund of funds manager.
The board has yet to approve the allocation, which could be for either a separate account or commingled fund of funds. The search “is exploring the universe, and only after will we make a recommendation to the board,” said Carroll South, executive director of the $13 billion board.
Investment consultant R.V. Kuhns and staff will review responses before making a recommendation to the board, possibly at its November meeting, Mr. South said. The board heard educational presentations on hedge funds of funds in February and decided to “proceed with caution,” according to meeting minutes.
The RFP is available at http://www.investmentmt.com/. Responses are due by 2 p.m. MDT Sept. 19.
