Launches & Closures Funds of Hedge Funds

ERAAM launches CalPERS inspired fund


Europanel Research & Alternative Asset Management (ERAAM), a French multi-manager that focuses on European-based hedge funds, has launched ERAAM Pure Alpha. This new fund, dedicated to institutional investors, is largely inspired from an investment strategy initially designed by ERAAM for the California Public Employees' Retirement System (CalPERS). At the end of 2008, CalPERS added investments of $85 million to its existing funds of funds and ERAAM was one of the beneficiaries with some $50 million, according CalPERS documents.

Cyril Julliard

The ERAAM Pure Alpha fund, which was approved by the AMF in June, will seek