New York State Insurance Fund, New York, is searching for either hedge fund-of-fund managers or hedge fund-of-one managers to run at least $200 million.
An RFI posted on the website of the non-profit state workers compensation insurance carrier states that the “implementation structure of this allocation has yet to be determined, although consideration will be limited to those firms with capabilities to provide custom hedge fund-of-one structures or specialist advisers with capabilities to create a customized program of hedge fund managers.”
The state insurance fund, which consists of the state's Workers' Compensation Fund and the Disability Benefits Fund, had $15 billion in assets as of Dec. 31, its most recent available annual report said.
The RFI is available on the fund's website. Proposals are due at 4 p.m. EDT on July 18. A timetable for a decision has yet to be determined.
Miriam Martinez, chief investment officer, referred questions to Dorothy Carey, deputy executive director and chief of staff, who did not return a phone call by press time. Eric Madoff, executive director, did not return a phone call by press time.