Cornwall County Council Pension Fund, Truro, England, is looking for a manager to create and run a £100 million ($170 million) diversified hedge fund-of-funds portfolio, documents filed with European procurement website Tenders Electronic Daily show.
The new allocation will be a concentrated portfolio of hedge funds for the £1.3 billion pension fund. The chosen manager will assist in setting the strategy allocation, and will also conduct investment and operational due diligence in selecting hedge funds for potential inclusion in the portfolio. They will also provide investment monitoring information and quarterly fund commentary.
The RFP is available on the TED website. Proposals are due Aug. 5. A hiring date was not provided.
Spokesmen for the pension fund were not available to comment by press time.