Institutional Investors

Florida State Board assesses adding hedge funds


The Florida State Board of Administration hired Cambridge Associates to help officials determine if and how hedge funds may fit into the system's $138 billion portfolio.

Trustees on the investment advisory council plan are discussing the portfolio redesign on 3 March, according to spokesman Dennis MacKee.

Last fall, Florida took the first step in implementing an opportunistic allocation to hedge funds in beginning the search for a hedge fund consultant. The search followed a 2008 work plan that drew up an opportunistic portfolio that could implement hedge funds for the