CalPERS sticks with specialists

Sun Jun 1, 2003



And it helps if the manager worked at Tiger, Pequot or Moore

So far, the California Public Employees' Retirement System (CalPERS) has invested just over half its $1 billion allocation to 13 diverse hedge funds and is tending to select specialists - particularly in the equity area - and also seems to be favoring those managers from Tiger, Pequot or Moore.

Its most recent additions fall into the specialist category and include Lansdowne Partners, a fundamentally-drive European long/short manager run by Steven Heinz and Paul Ruddock in London, and Everglades Partners, a Miami-based hedge fund run by Jeffrey Berg's Matador Capital Management.

Lansdowne was added to give the CalPERS portfolio European equity market exposure. On the long side the fund focuses on the mid-cap area, while the shorts are typically larger cap stocks. Matador is a value-oriented,...

ISSN: 2151-1845 / CDC10004H

Register

By registering you will receive

  • A monthly newsletter on your specified areas of interest
  • A fortnightly update on the sector

Free Trial

Take a trial today and access

  • Performance news, fund launches, regulation changes and people moves
  • Profiles of fund managers, investors and distributors
  • Live league tables
  • Investor mandates


Popular Searches on HFI