Institutional Investors

Massachusetts seeks help to liquidate $2.8bn in FoHFs


The latest request for proposals for the $50 billion Massachusetts Pension Reserves Investment Management gathered information from firms qualified to transition and liquidate four fund of hedge funds separate accounts.

The pension plan began considering an overhaul of its hedge fund programme earlier this year and is understood to be keeping Pacific Alternative Asset Management Company in its stable, while terminating Arden Asset Management, K2 Advisors, Rock Creek Group and Grosvenor Capital Management. The liquidation would have a total value of approximately $2.8 billion and total approximately 175 underlying hedge fund investments.

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