Fresno County (Calif.) Employees’ Retirement Association named four finalists in its search for one or more specialty hedge fund consultants, said Donald Kendig, retirement administrator, in an e-mail.
An RFP for dedicated consulting firms and funds-of-funds managers proposing discretionary or non-discretionary consulting relationships was issued in October. The level of discretion and a potential hiring date have not been determined.
Grosvenor currently manages about 4% of the total $3.9 billion pension fund portfolio in a hedge fund-of-funds strategy. The pension fund has an 8% hedge fund target and is interested in pursuing direct investments.