Products April 7, 2010

Wanted: Hedge Fund Consultant

April 7, 2010 (PLANSPONSOR.com) - The California State Teachers’ Retirement System (CalSTRS) is seeking a consultant to help select, monitor and assess hedge fund managers for a global macro strategy the fund will be undertaking.
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According to a CalSTRS press release, the selected firm will help CalSTRS initiate, monitor and assess a global macro hedge fund strategy for its new absolute return asset class.

The strategy will undergo an incubation period of not more than three years.  CalSTRS staff will work with the consultant to select three to six hedge fund managers who will invest a $200 million commitment in global macro strategies. Within the three-year period, the CalSTRS board will determine whether to expand or terminate the strategy, according to a press release.

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Some of the consultant’s duties will be to help CalSTRS:

  • Develop, review and update investment policies, procedures and a program structure.
  • Develop a search strategy, identify highly qualified managers, and conduct due diligence on managers and investments.
  • Monitor managers with regular assessments, conduct account valuations, identify problems and prepare quarterly reports.
  • Conduct research and analysis on current issues and topics involving global macro hedge funds.
  • Provide training and workshops on global macro hedge fund topics for CalSTRS staff and board members.
  • During the three-year period, the global macro hedge fund strategy will be part of the innovation portfolio, which is charged with incubating new investment opportunities outside the traditional asset classes that CalSTRS currently uses. The purpose is to try out new investment strategies and to determine their success before committing large dollar amounts to them.

According to an announcement regarding the search, the final filing date for proposals is 2 p.m. PDT on April 29, 2010, with the consultant selection expected by early summer. The Request for Proposal is available for viewing on the CalSTRS Web site at www.calstrs.com/rfp.

The California State Teachers’ Retirement System, with a portfolio valued at $132.5 billion, is the second largest public pension fund in the United States. It administers retirement, disability and survivor benefits for California’s 848,000 public school educators and their families from the state’s 1,400 school districts, county offices of education and community college districts.

Deals and People April 6, 2010

Dzierzak Joins Mesirow Financial RPAG

April 6, 2010 (PLANSPONSOR.com) - Mesirow Financial has announced the hiring of a new senior vice president in its Retirement Plan Advisory group.
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According to the announcement, Mark A. Dzierzak, 39, has joined the firm from Deloitte Consulting LLP, and brings more than 18 years of experience to the firm.  Dzierzak will serve as a retirement plan consultant to plan sponsors, providing full-service consulting to mid-market companies.

As part of the Retirement Plan Advisory practice, Dzierzak will serve as a consultant to plan sponsors to assist in the optimization of plan operations.   “Mark’s addition to Mesirow Financial will add another dimension to an already successful and respected Retirement Plan Advisory practice,” said practice group leader and managing director, Chris Reagan. 

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Dzierzak earned both his bachelor’s and master’s degrees from DePaul University.

Mesirow Financial is a diversified financial services firm headquartered in Chicago. Founded in 1937, it is an independent, employee-owned firm with more than $37 billion in assets under management and more than 1,200 employees in offices across the country and in London.  More information is available at http://www.mesirowfinancial.com.

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