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

Jan 26 2012 | 2:19am 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

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

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

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...

 

From the current issue of