Funds of Hedge Funds Institutional Investors

Fairfax tops up fund of hedge funds portfolio


The Fairfax Educational Employees' Retirement System in Virginia plans to give additional allocations to Grosvenor Capital Management and Permal Investment Management.

A rebalancing plan set up by consulting firm NEPC allocates an additional $16 million to Grosvenor Capital Management, while Permal Group's Fixed Income Holdings receives a total of $12 million. Fairfax initially made a 1.25% allocation to Grosvenor Capital Management's Institutional Partners fund of funds in 2008.

According to board documents, an initial add-on allocation to the fund of hedge funds was made on 1 May, while the full add-on investment was done on 1 June 2010.