Tuesday, 4 August 2015
Last updated 9 min ago
Nov 1 2011 | 9:55am ET
California has legislated some help for emerging alternative investment funds.
Gov. Jerry Brown last month signed a new law requiring the state's largest public pension funds to set up five-year plans to increase their investments in emerging managers across all asset plans. The California Public Employees' Retirement System and California State Teachers' Retirement System, both of which supported the bill, are charged with creating a formal definition of "emerging manager" and setting allocation targets for them.
CalPERS, the largest public pension fund in the U.S., is one of the largest hedge fund investors in the world and has no fewer than three emerging manager programs. The pension said that the law, Senate Bill 294, "has the potential to improve CalPERS' coordination of these efforts and refine its existing programs and strategies as they relate to emerging investment managers."
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…