Calpers: We’d invest more if hedge funds had a better reputation
By Rob Copeland
Wed May 16, 2012
California, New Jersey, Texas investors look for extra edge at SALT Conference.
LAS VEGAS - Major U.S. allocators say they are beginning to
look beyond the raw numbers as they shift their allocations
to hedge funds.
Joseph A. Dear, chief investment officer of the $232 billion
California Public Employees' Retirement System, said his
organization could double the $5.5 billion it has invested in
hedge funds. He's held back not merely by the usual concerns
about performance, but by the industry's reputation.
"There are some people who think hedge funds are terrible,
overpaid, and get bad press," Dear said, hardly a popular
opinion at the fourth...
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