San Diego To Pre-Approve Hedge Funds, Private Equity Firms

Mar 23 2011 | 11:18am ET

The San Diego County Employees' Retirement System is set to give its investment staff more freedom to increase its alternative investments allocation by pre-approving existing managers to receive more money without board approval.

The proposed "approved managers list" includes seven private equity funds and seven hedge funds that the $7.9 billion pension already invests with, HFMWeek reports. The move, expected to be approved by the plan's board, will "give the flexibility to negotiate terms" and "to be nimble as opportunities present themselves," Lee Partridge, CEO of Salient Partners and SDCERA's outsourced chief investment officer, explained.

Under the plan, pension staff would be permitted to invest up to 2% in any of the manager's funds up to 5% in each firm overall. The pre-approval list is part of a larger plan by SDCERA to increase its hedge fund portfolio.

The approved hedge fund managers would be BlackRock, Brevan Howard Asset Management, Bridgewater Associates, BlueMountain Capital Management, Carlson Capital, UBS O'Connor and Graham Capital Management.

In addition to the 14 hedge funds and private equity firms, the pre-approval list includes three real estate funds and two global infrastructure funds.


In Depth

Q&A: Schroders’ Forest Discusses Multi-Asset Investments On Eve Of U.S. Launch

Jul 17 2014 | 8:05am ET

Global investment manager Schroders has $446 billion in assets under management, $...

Lifestyle

Einhorns Busts At WSOP, Finishes In 173rd

Jul 15 2014 | 10:48am ET

Greenlight Capital founder David Einhorn’s World Series of Poker won’t end at...

Guest Contributor

Common Risk Parity Misperceptions

Jul 16 2014 | 11:02am ET

Over the past few years, risk parity has become a component of most investors’...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    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…

Publisher's Note