Institutional Investors

Florida State to invest up to $5bn


The $139 billion Florida State Board of Administration is considering allocating between $2 billion and $5 billion in hedge funds as officials consider implementation in the new asset class in conjunction with a revamp of the overall investment portfolio.

Under the possible plan, a portion of the active equity and fixed-income exposure from the public market asset classes would be allocated to equity and fixed-income hedge funds within a strategic investments asset class.

So far, the retirement system has hired four hedge funds and is making its initial hedge fund