Institutional Investors

SDCERA approves relative value managers


The $7.5 billion San Diego County Employees’ Retirement Association approved two new hedge fund allocations as trustees build out their relative value portfolio.

Carlson Capital’s Black Diamond Relative Value Fund received a $50 million commitment, which is on top of an existing investment of $54 million in Carlson’s multi-strategy offering. This is in addition to a new commitment of $75 million to Blue Mountain Capital’s credit relative value fund, which was launched last year and is expected to raise $500 million.

Additionally, four managers within the global macro/commodity trading advisors portfolio were pre-authorised