Marco Consulting Group hired five firms to manage an initial total of $420 million in three new alternative investment commingled funds that will be offered to its institutional and multiemployer benefit plan clients.
AQR Capital Management, Bridgewater Associates and Invesco will manage a total of about $200 million in the MCG Alternatives Group Trust, a diversified risk-parity fund, according to a Marco news release.
Hamilton Lane will manage about $100 million in the MCG Private Equity Fund, with a “J-curve mitigation feature that integrates secondaries, distressed and other current-pay investments,” according to the news release.
Grosvenor Capital Management will run about $120 million in the MCG Completion Strategies Fund, designed to complement Marco clients' existing hedge funds-of-funds portfolio by adding diversifying hedge fund strategies such as global macro.
The launch date for the new funds, for which Marco Consulting Group is the named fiduciary, could not be learned. Neither Jack Marco, chairman, nor Amy Forebaugh, director of the firm's fiduciary services unit, could be reached for comment.
Marco Consulting's first two commingled funds, the MCG Equity Group Trust and the MCG Fixed Income Fund Group Trust total $828 million and $767 million, respectively, according to the news release.