San Diego Considers New Alts. Investments

Nov 16 2010 | 1:49pm ET

The San Diego County Employees Retirement Association may shake up its alternative investments portfolio at its board meeting on Thursday.

The $6.85 billion public pension plan is considering $85 million in new commitments, one each to a hedge fund, a private equity fund and a co-investment fund. San Diego may also move $50 million currently invested in Graham Capital Management's discretionary hedge fund into a quantitative global macro fund, KD4, managed by the same firm.

The system may add the Baring Asia Private Equity V fund to its portfolio with an initial mandate of $50 million to $60 million, Pensions & Investments reports. It may also add $50 million to Bridgewater Associates' Pure Alpha Major Markets Fund on top of the $56.8 million it already has with Bridgewater.

The third commitment could be to the Drug Royalty II Co-Investment Fund, which could get an additional $25 million to add to the $25 million San Diego invested in February. The investment would actually be made through Man Group's RMF2 Feeder Fund.

Graham Capital's discretionary hedge fund currently manages $300 million for San Diego.


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