Institutional Investors

CalPERS logs more partial redemptions


The California Public Employees' Retirement System, which made no allocations to hedge funds in 2009, completed another $145 million in partial redemptions as of late last year.

The Sparx Asian Fund of Funds gave back $89 million to Cal-PERS, while single-fund mangers Farallon and Tosca returned $10 million and $46 million respectively, according to investment transaction reports. Officials have completed due diligence on 66 firms in 2009, but last year marked the first time in four years that the pension fund did not allocate to the asset class.