California continues to focus on a golden destination of pure alpha
Mon Sep 5, 2011
CalPERS takes hedge funds out of the domestic equity bucket as it aims to invest $9.5 billion
The $238 billion California Public Employees’
Retirement System (CalPERS) has nearly finished realigning its
relationships with hedge fund managers. Now after 10 years it
is re-stating its absolute return aims and tactically
streamlining its hedge fund investments to be more than just an
The most recent allocation to its Risk Managed Absolute
Return Strategies Program (RMARS) is a $100 million commitment
to the Standard Pacific Eureka Fund, a long/short equity fund
that has a global focus on mid-cap stocks. The
fund’s investment approach is fundamentally driven
by developing information channels across industries, up and
down the supply chain and around the world. This, in addition
to hiring a market-neutral hedge fund managed by OMG Capital
earlier this year, also for a $100 million allocation, are
CalPERS’ first new allocations for a number of
The allocation framework for the absolute return strategies
programme has yet...
ISSN: 2151-1845 / CDC10004H
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