Wednesday, 23 July 2014
Last updated 13 hours ago
Mar 22 2007 | 11:13am ET
The California Public Employees’ Retirement System’s absolute return strategies advisory board last month hired three advisors to help construct customized portfolios comprised of emerging hedge fund managers.
CalPERS, the nation’s largest public pension fund, committed a total of $350 million to Pacific Alternative Asset Management Company, 47°N Capital Management and The Rock Creek Group, all of which feature predominantly female ownership. Additional allocations are dependent upon the advisors exceeding the absolute return target. Funding for the new mandates will come from the system’s passively-managed global equity assets.
The newly-hired advisors will work with incumbent consultant Mosaic Investment Advisors to develop an emerging manager program that “provides capital and serves as a resource to assist the emerging funds with navigating the institutional marketplace,” according to CalPERS.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…