CalPERS Hires Three Advisors For Emerging HF Manager Program

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.


In Depth

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

iCapital Network: The Trump Effect On Direct Lending

Feb 23 2017 | 4:21pm ET

The arrival of the Trump Administration has raised questions among private debt...