Massachusetts Water Resources Authority Employees' Retirement System, Chelsea, has hired Permal Group and EnTrust Capital to manage $6 million each in hedge funds of funds, confirmed Ruth O'Meara, executive director.
The $313 million system issued an RFP in March for two managers to each handle 2% of the system's assets each, Ms. O'Meara said in a telephone interview.
It is a new allocation, complementing the system's current investment in the Boston-based $49.8 billion Massachusetts Pension Reserve Investment Management Board's absolute-return fund. The funding source could not be learned by press time.
