Institutional Investors

San Bernardino mulls options to go direct

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San Bernardino County Employees Retirement Association is winding down its fund of hedge fund investments with Gottex Fund Management and Mesirow Advanced Strategies in favour of allocating directly to hedge funds within its absolute return investment programme.

Next month, trustees will consider the creation of a manager platform in conjunction with Sterling Stamos Capital. The platform already in place with the firm has been outside of the absolute return programme in that at the strategy level staffers of the $5 billion pension fund consider hedge funds if they are the best structure for a particular investment. Long/short managers