Indiana State Police Pension Trust, Indianapolis, is searching for one or more managers to run $50 million in a conservative hedge fund-of-funds strategy, confirmed Ian Slatter, spokesman for state Treasurer Richard Mourdock.
The $388 million pension trust has a 30% allocation to alternatives — 18% toward appreciation-oriented hedge fund of funds and private equity, and 12% toward preservation-oriented hedge fund of funds, which includes active control debt and managed futures.
The $50 million mandate is currently held in a short-term investment fund, Mr. Slatter said.
Mr. Mourdock issued a “broad agency announcement” seeking a firm to manage assets in the conservative hedge fund of funds. Mr. Mourdock is the sole trustee for the pension trust. Mr. Slatter said a BAA was issued to seek a “broad response and a variety of ideas from the hedge fund community,” while an RFP tends to be more specific to an investment management style….
Read all about it at http://www.pionline.com/article/20120221/DAILY/120229987/indiana-police-trust-seeks-hedge-fund-of-funds-manager
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