Mandates & RFPs

New York City searches for hedge fund investment consultant

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The New York City Employees’ Retirement System, the New York City Police Department Pension Fund and the New York City Fire Department Pension Fund is seeking to hire a hedge fund investment consultant to the systems.

Responses to the RFP were returned in early August and represent a move forward in an asset class that has been long discussed at the retirement system that resides in the backyard of the majority of the world’s hedge fund managers. The $103 billion system’s current asset mix is: 44% equity; 28% fixed income; 16% international equity; 8% private equity and real estate;