CalPERS Hires Ex-Russell Exec To Oversee Hedge Funds

Jun 27 2012 | 8:23am ET

The California Public Employees’ Retirement System has tapped a hedge fund exec to oversee its $5.2 billion hedge fund program.

Ed Robertiello, who joins the pension as senior portfolio manager of absolute return strategies, brings 20 years of investment experience in traditional and non-traditional fund strategies, most recently as managing director of hedge funds in the New York office of Russell Investments. Prior to Russell, Robertiello was a managing director in Credit Suisse’s asset management business.

“My time at Russell Investments provided me with the opportunity to help build out an institutional process including research, portfolio management, operational due diligence and investment risk and to build a talented hedge fund solutions team, while also working with a diverse range of institutional clients,” said Robertiello in a statement. “I am excited to bring my experience and expertise to the public defined benefit space in my new role at CalPERS.”

In his new position, Robertiello will develop investment strategies and policies in the area of absolute return strategies for the $228 billion pension fund, lead the team responsible for selection and monitoring of hedge funds and actively manage advisor relationships.

CalPERS’ hedge fund portfolio was overseen for 11 years by Kurt Silberstein, who resigned last year to join Ascent Private Capital Management, U.S. Bank's ultra high-net worth private banking and family office business.

CalPERS lost 2.29% on hedge funds in 2011, although it managed an overall return of 1.1%, thanks to the strong performance of its other alternative investments.

 

 


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