Fresno County (Calif.) Employees’ Retirement Association is searching for one or more specialty hedge fund consultants, said Donald Kendig, retirement administrator, in an e-mail.
Proposals from dedicated consulting firms and funds-of-funds managers proposing discretionary or non-discretionary consulting relationships will be considered.
The selected firm or firms will advise the $3.9 billion pension fund on its 8% hedge fund target allocation. The fund now has about 4% invested with Grosvenor Capital Management in a hedge fund-of-funds strategy and is interested in pursuing more direct investments. A request for information for hedge fund managers and specialty consultants was issued in June.
The RFP is available on the pension fund’s website.
Proposals are due by 4 p.m. PST on Nov. 20. A hiring decision is anticipated by early March.