CalPERS Loses 2.3% On Hedge Funds, Gains 12.4% On Private Equity

Jan 26 2012 | 1:19am ET

The California Public Employees’ Retirement System managed to make money last year—no thanks to its hedge fund investments.

The nation’s largest public pension fund lost 2.29% on hedge funds, Joseph Dear, chief investment officer, told the CalPERS board. Despite the loss, CalPERS managed a 1.1% return for 2011, a year that saw the Standard & Poor’s 500 Index finish flat.

What positive return there was can be attributed to CalPERS’ other alternative investments. Its private equity portfolio was up 12.37% through the third quarter, and its real-estate portfolio returned 9.92%.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of