Metro in hedge funds

Metro Nashville Chief Investment Officer Fadi Bousrama told VNC Friday that the investment committee of the Metro employee benefit system agreed Nov. 19 to approve investing up to 10 percent of fund assets in hedge funds. An RFP will be out eventually for a hedge-fund advisor, but the RFP's issuance is "not even close." The advisor retained will be asked to create a special-purpose vehicle for Metro and to help develop policy. The SPV will contain "equity long/short hedge funds," said Bousrama. Other tactics may also be employed, subsequently. VNC's original story is here.