Hedge Funds Institutional Investors

San Diego puts alpha engine into reverse

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The $6 billion San Diego County Employees' Retirement Association is said to be scaling back its hedge fund portfolio as the search begins in earnest for a new chief investment officer and the search for a chief risk officer winds down.

San Diego CIO David Deutsch recently resigned following the uncovering of alleged fraudulent fund managers Paul Greenwood and Stephen Walsh, who ran companies including WG Trading and Westridge Capital Management.

As for San Diego's "alpha engine", the size of manager exposure within the alpha engine will be reduced to $330 million. As of June