Institutional Investors

Rhode Island hires twelve new managers


The Rhode Island Employees’ Retirement System has aggressively grown its hedge fund programme in recent months, hiring 12 hedge fund managers with a 15% allocation to a new set of strategies for the $7 billion pension fund.

So far Rhode Island has made public 12 hires, but it has not been announced how much each firm will manage. Each group is a well-known institutional brand that has been selected by other US public pensions, endowment and foundations.

A 15% allocation to hedge funds was established in recent months. The decision follows consultant Cliffwater’s recommendation