Sunday, 26 April 2015
Last updated 1 day 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."
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…