The $121 billion Florida State Board of Administration has identified six additional hedge funds with the help of Cambridge Associates and is still in legal negotiations with Ramius.
Of the new unnamed prospective hedge funds, three have been approved and are be in the process of legal negotiations, while the other three are undergoing the due diligence process. The three funds that have been approved are an event-driven merger arbitrage fund, credit long/short and a long/short equity manager. The actual placement of assets may be completed by early next year.
Through the end