Institutional Investors

CalPERS plants seeds for "Sprout" programme


The $176 billion California Public Employees' Retirement System is looking to source its own hedge fund talent via a new multi-strategy hedge fund platform. Called Sprout, it will be structured to find and develop skilled, emerging hedge fund talent.

The largest US pension fund, and one of the largest institutional allocators to hedge funds in the world, CalPERS had $5.9 billion in hedge fund investments spread among 26 single manager funds and nine funds of hedge funds as of 1 March. There had been plans to double the size of