Two Massachusetts town pension plans have issued RFPs for funds of hedge funds to manage opportunistic co-investment strategies.
The Worcester Retirement System is looking to invest approximately $20 million to $25 million with an experience manager of hedge fund of funds portfolios that have exceeded $1 billion in capital and have been in operation for at least five years. The $977 million system currently has an allocation of 3% to a bucket made up of portfolio completion strategies, hedge funds and GTAA strategies. Currently the pension system is not allocated to hedge funds.
Meanwhile . . .
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