Funds of Hedge Funds Institutional Investors

Denver to hire multi-strategy fund for $80 million mandate

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The Denver Employees Retirement System is in the early stages of its search for a global multi-strategy fund of hedge funds to manage $80 million.

The $1.7 billion pension fund's annual asset allocation review resulted in the new mandate, which constitutes a 5% introductory allocation to hedge funds, according to Steven Hutt, executive director of Denver Employees.

The board of trustees has been participating in a thorough fund of hedge funds education process that was done in conjunction with the asset mix study. Officials plan to reduce fixed-income investments in