Fort Lauderdale (Fla.) Police & Fire Retirement System is considering going into opportunistic hedge funds, said Fred Nesbitt, director of public information.
The $779 million pension fund currently has a single hedge fund-of-funds manager, EnTrust Capital, which runs $38 million.
Following an educational presentation by EnTrust on its special opportunities fund-of-funds separate account at the pension fund's board meeting on Wednesday, the board voted to bring in two or three opportunistic managers to make presentations at its Sept. 10 meeting.
Mr. Nesbitt said the board will likely make a decision whether to hire one of the managers to complement EnTrust's portfolio at that meeting. The portfolio size would be determined at that time.
Investment consultant CapTrust Advisors is assisting with the invitation-only search.