Hedge Funds Institutional Investors

Passport raises $30 million from California pension

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California’s San Bernardino County Employees Retirement Association has allocated $30 million to Passport Capital.

Passport Capital has won a $30 million long/short equity mandate from California’s San Bernardino County Employees Retirement Association.

The San Francisco firm will manage the $5 billion pension fund's capital in a separate account that will mirror its Global Strategy fund, which was up 4.79% this year through May. Passport managed $3 billion as of July 1, up from $2.37 billion on January 1.

Passport was one of two recent hedge fund investments by San Bernardino. The pension also selected hedge fund and long-only manager Tradewinds Investment, a subsidiary of Nuveen Investments, to run another $30 million long/short separate