Fresno County (Calif.) Employees’ Retirement Association is exploring ways to bring its hedge fund allocation, now 4% of the total pension fund, closer to its 8% target, said Donald Kendig, retirement administrator, in an e-mail.
Accordingly, a request for information for hedge fund managers or specialty hedge fund consultants could be issued by the end of June, Mr. Kendig wrote.
The RFI is expected to be posted on the $3.9 billion pension fund’s website. Interested firms are encouraged to contact the pension fund through the process listed in the eventual RFI.
Options the pension fund is considering are increasing its $150 million allocation to existing hedge funds-of-funds manager Grosvenor Capital Management, partnering with Grosvenor to develop a customized hedge fund-of-one strategy, hiring one or more additional hedge funds-of-funds managers, or leveraging the relationship Verus (formerly Wurts & Associates), the pension fund’s general investment consultant, has with hedge fund consultant Aksia to construct a diversified direct hedge fund portfolio.