San Diego Pension To Adjust Private Equity Portfolio

Feb 11 2010 | 9:01am ET

The San Diego County Retirement Association was busy last week tweaking its alternative investments strategy.

The $7 billion public pension fund is working on a new private equity allocation strategy. SDCERA plans to increase its investments in distressed and intellectual property funds following an asset-liability study, the pension’s investment officer, Yagen Chen, told its board.

Neither mandates—nor the termination of existing mandates—are planned at the moment. But SDCERA’s board did make one commitment and ended another at the meeting.

The California pension will invest $25 million with private equity firm Atlantic-Pacific Capital’s Drug Royalty II fund, which is to invest in royalty streams from pharmaceutical companies, as well as other related assets.

SDCERA also voted to redeem its $43 million investment in a multi-strategy fund managed by UBS O’Connor. The decision does not affect a separate $22 million investment in a market-neutral long/short fund managed by the same firm.


In Depth

Q&A: Old Hill's Stone On Private Debt, P2P And Credit Bubbles

Jun 6 2017 | 7:52pm ET

While institutional capital continues to flow into the broader private debt sector...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: Asia-Focused Hedge Funds Offer Great Opportunities

Jun 23 2017 | 3:33pm ET

Emerging market strategies have outperformed their developed-market peers for five...

 

From the current issue of