The $135 billion Florida State Board of Administration is getting into hedge funds for the first time and, as the man overseeing that initiative, James Treanor has his work cut out for him. Florida has yet to decide exactly how much it will commit to hedge funds, but the amount is expected to be well in excess of $1 billion. Working with Florida’s new hedge fund consulting firm, Cambridge Associates, the 46-year-old Treanor will be in charge of due diligence and hedge fund selection. He is also responsible for manager contract negotiations, operations and personnel for private equity and hedge funds at the board. Before joining Florida, he worked for Northwest Airlines Corp. (now part of Delta Air Lines) in charge of airport negotiations and asset acquisitions — making him ideally suited to strike a hard bargain with hedge fund managers.
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