Funds of Hedge Funds Institutional Investors

Macomb County ready to fund five FoHF mandates


Macomb County (Michigan) Employees' Retirement System is finally moving forward with its fund of hedge funds plans following a halt to the programme after last year's financial crisis.

Five firms have been selected to run $36 million for the $700 million retirement system. Of the five, three have recently received funding and a fourth firm will be approved to receive funding soon, according to Gary Cutler, a board trustee.

Last year, trustees selected Lyster Watson to manage $12 million as the manager best suited to Macomb County's goal of finding low-volatility strategies. Other