CalPERS Hedge Fund Portfolio Shrinks

Jun 8 2011 | 9:55am ET

The nation's largest public pension fund's hedge fund portfolio is getting lighter.

The California Public Employees' Retirement System, which manages more than $230 billion, redeemed or received as distributions almost $100 million from three hedge funds. Most of that money came from Canyon Capital Advisors, which paid out distributions totaling $59.1 million in January and February.

Canyon's Special Opportunity Fund returned $55.3 million and its Value Realization Fund $3.8 million.

Most recently, the pension pulled $35 million from Wayzata Investment Partners' Recovery Fund, part of a $40.3 million set of redemptions in March. CalPERS remains an investor in the Wayzata fund.


In Depth

Q&A: MackeyRMS's Chris Mackey On A High Tech Fix To Broker Votes

Jun 23 2017 | 8:17pm ET

The looming implementation of the EU’s MiFID II rules regarding research has put...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: Asia-Focused Hedge Funds Offer Great Opportunities

Jun 23 2017 | 3:33pm ET

Emerging market strategies have outperformed their developed-market peers for five...

 
Error

From the current issue of