Plymouth County Retirement on lookout for hedge fund of funds, emerging markets managers

Plymouth County (Mass.) Retirement Association is seeking a manager of a co-investment hedge fund-of-funds strategy to run between $10 million and $20 million, and an emerging markets equity manager to run about $50 million.

The pension fund currently invests about $40 million in hedge funds of funds in three strategies: $21.3 million in ABS Offshore SPC's global segregated portfolio, $17.9 million in Entrust Special Opportunities Fund III and $823,000 in Aetos Capital Prime Portfolio, according to the pension fund's fourth-quarter investment report. Hedge funds of funds made up 4% of the pension fund's investment portfolio as of Dec. 31, the report added.

The pension fund currently invests about $100 million in an emerging markets equity strategy managed by LMCG Investments. Emerging markets equities makes up about 10% of the portfolio, according to the report.

Meketa Investment Group, investment consultant to the $1 billion pension fund, is assisting with the searches.

The RFPs are available on Meketa's website. Proposals for both searches are due at noon EDT March 15. Selection dates were not disclosed.

David Sullivan, executive director of the pension fund, and John Humphreys, vice president at Meketa, were not available to provide further information.