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

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of