The Massachusetts Water Resources Authority Retirement System issued a request for proposals for a firm to manage a fund of hedge fund mandate totalling up to $12 million.
The $300 million pension fund is looking for a firm that already has $500 million in assets under management and a track record of at least five years. Officials are looking for strategies that are diversified by exposure and geography and that do not employ leverage at the fund level. RFPs are due on 8 April.
The pension fund’s consultant is NEPC. The