MFA Blog

New York State Insurance Fund Seeks Fund of Fund for Investment

Posted on July 8, 2014

The New York State Insurance Fund issued a request for information recently as it searches for fund of fund managers to handle a $200 million investment.  The search for the new allocation comes as the fund, “is looking to diversify its current pool of investments with an absolute return allocation, and aims to develop a hedge fund portfolio or program that will be invested in a broad spectrum of strategies,” according to a report from Invest Hedge.

The insurance fund is searching for a custom fund of one manager that has at least $5 billion in discretionary assets under management in institutional multi-strategy fund of funds portfolios.  It also seeks at least seven years of experience managing the fund of funds strategies, and at least five fund of one accounts.

For a specialist adviser provider, the insurance fund seeks firms that consult on at least $20 billion in client assets across numerous hedge fund strategies, a minimum of seven years’ experience in advising and providing consulting services to clients.  It also seeks for the adviser to have at least 10 clients with assets over $100 million.

Read more about the New York State Insurance Fund’s search for fund of fund or fund of one managers online from Invest Hedge.