State of Wisconsin Investment Board, Madison, is searching for direct hedge fund managers to run a total of $1.38 billion, according to an implementation plan approved by SWIB for its first hedge fund allocation.
Cliffwater, the $80.1 billion board’s hedge fund consultant, is looking for managers to recommend to SWIB, said Vicki Hearing, public information officer. No RFP will be issued, she said.
Hedge fund managers that want to be considered should contact Stephen L. Nesbitt, Cliffwater CEO, Ms. Hearing said.
A time frame for making decisions on the hirings has not been set, Ms. Hearing said.
The board has set a target of 2% of its $69.6 billion core fund for hedge funds over several years, she said.