Institutional Investors

Florida winds down consultant search


The Florida State Board of Administration has taken the first step in implementing an opportunistic allocation to hedge funds as trustees complete a search for a hedge fund speciality consultant this month.

The foray into hedge funds began in June 2008 when a work plan was drawn up to initiate investments in hedge funds via an opportunistic portfolio. The initial allocations are expected to follow shortly after a consultant is chosen before the end of the third quarter.

Traditionally, the $99.7 billion state pension plan has opted for traditional retirement asset mix including US equities,