Delaware To Redeem From Farallon

Dec 15 2010 | 1:41am ET

Delaware's $6.4 billion pension fund is the latest public plan to bid farewell to Farallon Capital Partners.

The Delaware Public Employees' Retirement System's board of trustees voted to redeem its investment with the San Francisco-based hedge fund, one of three in which it currently invests, HFMWeek reports. The pension will pull its money at the end of the year.

Delaware has invested with Farallon since 2008, when it awarded the firm a $100 million mandate. The pension continues to invest with hedge fund Angelo Gordon & Co. and Barlow Partners.

According to HFMWeek, Delaware is the third public pension to quit Farallon this year, following earlier redemptions by the New Mexico Public Employees' Retirement Association and the Nevada System of Higher Education.

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