Tulare County Employees’ Retirement Association, Visalia, Calif., named three finalists in its search for a hedge fund-of-funds manager, said David Kehler, retirement administrator.
Blackstone Group, Magnitude Capital and Titan Advisors have been invited to make finalist presentations to the board, most likely at its July 22 meeting.
The targeted allocation size is about $30 million, which is expected to bring the $1.3 billion pension fund up to its 5% hedge fund target allocation from the current 2.5%.
A timeline for a hiring decision has not been determined.
Investment consultant Verus is assisting with the search.