Institutional Investors Mandates & RFPs

Santa Barbara begins fund of funds search to replace Arden

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Santa Barbara County Employees' Retirement System is discussing the issue of an RFP for a new fund of hedge funds manager as a replacement to Arden Asset Management, according to trustee meeting documents.

The $1 billion plus retirement fund held a trustee education session on funds of hedge funds back in April that was led by investment consultant Pension Consulting Alliance. PCA had recommended Arden's termination at the end of 2009. An official RFP is forthcoming as selection of a new manager for a $30 million mandate is expected in