CalPERS, CalSTRS Offer Institutions A Peek At Emerging Managers

Jan 18 2007 | 5:40pm ET

U.S. institutional investors will have access to more than 700 emerging managers and service providers thanks to a new emerging managers database unveiled by the California State Teachers’ Retirement System and the California Public Employees’ Retirement System. The service captures over 700 money managers, private equity funds and funds of funds, private real estate investments firms, real estate investment trusts, hedge funds, funds of hedge funds, consultants, broker-dealers and research firms.

“It’s said at the ballpark that you can’t tell the players without a program, and this database does that for us,” Christopher Ailman, CalSTRS chief investment officer, said. “This tool helps us to scout promising talent to nurture for potentially solid investment payoffs as the managers and funds mature.”

“Most large firms started at the small end of the market and we want to find them on the small end of their asset class,” said Russell Read, CalPERS chief investment officer. “Then we won’t have to stand in line for their services on the big end later.”

CalSTRS and CalPERS employed New York-based Altura Capital, which solicited and received inquiries from 75 foreign countries, and 44 firms in 18 different countries ultimately provided data. Almost half of the 721 participants are based in California and New York, 70% have 10 or fewer employees, and 35% have operated for fewer than two years.

One-third of the participants are money managers, followed by hedge funds at 28.4%, private equity funds at 13.6%, and broker-dealers at 8.9%.

“We’re making a continuing effort to scout these managers and invite them to participate in the database,” said Monika Mantilla, CEO of Altura Capital. “We’re anticipating an even larger, better sample set that we will stay on top of, given the extreme dynamism of these organizations.”

Altura Capital provides advisory services with a focus on investment strategies that are related to diversity and community development, according to the firm’s marketing materials.

Emerging managers are welcome to submit their information to the database at http://www.alturacap.com/.
 

 


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