The $8 billion San Diego County Employees’ Retirement Association has approved additional commitments for its growing hedge fund portfolio.
Trustees have considered allocations to D. E. Shaw and Saba Capital to diversify further the strategies in the hedge fund portfolio. Approved was a $100 million allocation to the D.E. Shaw Heliant Fund, a fund that offers exposure to the firm’s macro-related trading strategies.
In the case of Saba, an allocation to Boaz Weinstein’s firm was not approved in trustees’ July meeting, but a $100 million commitment passed in the August trustee meeting. Saba