Institutional Investors

CalPERS continues hedge fund redemptions


The $236 billion California Public Employees Retirement System has logged redemptions from five groups totaling $132 million, according to latest transaction info.

CalPERS redeemed $110 million from The Marquee Fund, a multi-strategy hedge fund that the retirement system allocated to in 2008. The fund was managed by specialist quant manager Evnine & Associates and was designed by the firm alongside CalPERS staff. Partial redemptions were made from Wayzata ($15 million); Tennenbaum ($2 million) and Brookside ($2 million).

The nation’s largest pension fund has a $5.5 billion allocation to hedge funds and has had a hedge fund programme for