Institutional Investors

Rhode Island hires twelve new managers

by

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