Tailored Hedge Fund Allocations Built Around Your Fund

The problem with the current options

If your pension fund is looking for hedge fund exposure, you've probably already weighed the two standard paths. You can build it internally, which means your team is spending months sourcing managers, running due diligence, negotiating terms, and monitoring performance on an ongoing basis. It works, but it's a full-time job on top of the rest of your portfolio.

The other route is a fund-of-funds. Less work on your end, but you hand over control. They pick the managers. They set the allocations. You get a quarterly report and hope it lines up with what your board expects.

Most pension allocators we talk to don't love either option. They want the expertise without giving up the oversight.

How we work with pension funds

Masterpiece is a hedge fund investment consultant. We handle sourcing, screening, due diligence, and ongoing monitoring. But unlike a fund-of-funds, we build your portfolio from the bottom up and give you real involvement in the decision-making.

The level of involvement is up to you. Some pension clients want to approve every single manager before capital moves. Others prefer to set guidelines and let us execute. Most are somewhere in between. Here's how it typically works:

1. We learn your fund's objectives and constraints

   Return targets, risk tolerance, liquidity requirements, strategy preferences, any board-level mandates. We build around your governance structure, not ours.

2. We source and vet managers through full due diligence

   Investment DD, operational DD, financial statement review, ESG analysis. We bring you managers that meet your criteria, with the full research behind each recommendation.

3. You decide what goes into your portfolio

   Approve or pass on each manager. Set allocation sizes. Or tell us to handle it. The point is you have the option at every step. Nothing moves without your sign-off unless you want it to.

4. We handle ongoing monitoring and reporting

   Daily, weekly, monthly, quarterly oversight. Risk monitoring. Performance attribution. NAV reconciliation. You get institutional-grade reporting without building the infrastructure in-house.

Who we are

Masterpiece Advisors is a hedge fund investment consultant based in New York. Our senior team has over 25 years of individual hedge fund industry experience. Pension funds are our primary client base.

We're not a fund. We don't take performance fees. We sit on your side of the table.