Institutional Investors

King Street added to Florida State’s manager list

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The $128 billion Florida State Board of Administration has added four additional managers to its hedge fund programme as the entire investment portfolio reported stellar returns for the fiscal year ending 30 June.

This past year, Florida hired single-manager hedge funds totalling $420 million in new commitments, with new mandates expected going forward. The most recent allocations are to Starboard Value and Opportunity Fund ($125 million); King Street Capital ($100 million); Taconic Opportunity Fund ($150 million); and Gruss Global Investors ($150 million).

Florida has an investment policy that includes an 11% strategic investment