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Taveras, Raimondo trade barbs over hedge funds

WRPI – Providence Mayor Angel Taveras’s campaign on Monday slammed his rival for the Democratic gubernatorial nomination, General Treasurer Gina Raimondo, for retaining an adviser recently replaced in Massachusetts – then got criticized for getting the facts wrong.

WPRI.com reported last week that the Massachusetts pension board had decided to drop the adviser, Cliffwater LLC, in a bid to reduce fees paid to hedge funds. Raimondo’s spokeswoman said the treasurer retains confidence Cliffwater, which she hired in 2011 to add more than $1 billion in hedge funds to the state’s portfolio, and did not plan to follow suit.

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