MFA Blog

Chicago Pension Fund Seeks Long/Short Fund of Fund

Posted on August 8, 2013

The Chicago Laborers and Retirement Board Employees began a search earlier this week for an equity long/short fund of fund.  According to reports from Infovest21, the pension fund hopes to diversify its current hedge fund portfolio with the new fund of fund.

The pension lists a number of criteria for the potential fund of fund to have, including “a minimum of two years’ experience in long/short strategy…and a minimum long/short target fund size of at least $150 million,” according to Infovest21.  The criteria also including the manager providing historical allocation data and underlying manager holdings.

Chicago Laborers and Retirement Board had $1.4 billion in assets at the end of March.  The pension fund allocates $115 million (or 8.2% of assets) to hedge funds.  That allocation level represents the fifth largest asset class in the pension’s portfolio.

Learn more about this story from Infovest21.