Nashville and Davidson County Employee Benefit System is creating a long/short equity hedge fund programme.
Fadi BouSamra, chief investment officer of the $1.85 billion system, said officials hope to issue the request for proposal by the end of 2009. The RFP will allow a consultant or a fund of funds managers to apply if they can create a fund just for Nashville and Davidson County. Plan executives will probably use a multi-strategy fund of hedge funds for a portion of the allocation, but the idea is to create a long/short separate account.
The new allocation is for up