Metropolitan Government of Nashville (Tenn.) and Davidson County Employee Benefit Trust Fund plans to issue an RFP next month for a hedge fund manager to run a new investment of up to 10% of the system’s $1.85 billion in assets, confirmed Fadi BouSamra, chief investment officer.
The hedge fund allocation will be the system’s first.
The selected manager will also assist in developing a hedge fund policy for the system, Mr. BouSamra wrote in an e-mail response to questions.
Funding will come from reducing the system’s equity allocation, Mr. BouSamra said. “We do not expect any terminations as a result of this,” he wrote.
There’s no time line for a selection, Mr. BouSamra added.
