Tulare County Employees’ Retirement Association, Visalia, Calif., plans to search for a hedge fund-of-funds manager some time in the first quarter, said David Kehler, retirement administrator, in an e-mail.
The search is being conducted to bring the pension fund up to its 5% hedge fund target allocation.
About $29 million or 2.2% is already invested in the Aetos Capital Multi-Strategy Arbitrage Fund, a hedge fund-of-funds strategy.
An RFP will not be issued. Mr. Kehler wrote that interested managers can contact the pension fund’s investment consultant, Wurts & Associates.
Separately, the $1.3 billion pension fund could launch a search for a private equity manager some time in the second quarter, Mr. Kehler wrote. He could not provide additional information on the pension fund’s private equity goals for 2015 at this time.