The $121 billion Florida State Board of Administration has identified six additional hedge funds that it wants to add to the portfolio. It has been assisted in this process by Cambridge Associates and is still in legal negotiations with Ramius Capital.
Of the new unnamed prospective hedge funds, three have been approved and will be in the process of legal negotiations before year end, while the other three are undergoing the due diligence process. The three funds that have been approved are an event-driven merger arbitrage fund, a credit long/short player and a long/short equity manager. The actual placement