Orange County Employees Retirement System, Santa Ana, Calif., launched an RFI for macro uncorrelated hedge fund managers for the $11 billion pension fund.
OCERS officials will compare fee information for a $100 million commitment. Officials are issuing the RFI to evaluate hedge funds that could provide diversification through macro uncorrelated or idiosyncratic return strategies.
The RFI is part of a three-pronged approach that includes market scans by its general consultant, NEPC, and its hedge fund consultant, Aksia. OCERS will also undertake two separate but coordinated database searches by the consultants. Each consultant will provide a shortlist of potential candidates for OCERS' investment staff.
Responses are due Feb. 5. After comparing notes, a shortlisting process would begin in March or April.
The RFI is available on the pension fund's website.
Separately, the investment committee at Monday's meeting approved an additional allocation of $20 million to Monroe Capital. OCERS originally invested $50 million with Monroe Capital in April for a direct-lending strategy.