Massachusetts implements direct investing programme and seeks FoHF consultant

Thu Nov 3, 2011

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The Massachusetts Pension Reserves and Investment Management Board has allocated a total of $280 million directly to hedge funds in its first tranche of single-manager hedge fund assignments.

Spanning 11 hedge funds, the initial direct allocation by the $50 billion PRIM board allocates across a variety of strategies including equity long/short, multi-strategy and global macro. The total direct hedge fund programme amounts to $500 million and another tranche comprising 10 managers will be put up for board approval in December, according to Stanley Mavromates, chief investment officer of PRIM.

Each of the single-manager hedge funds approved by the PRIM...

ISSN: 2151-1845 / CDC10004H

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