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.

 

 


In Depth

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Lower middle-market companies form the economic fabric of the nation, but they can...

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

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

 

From the current issue of

Business Insider has been reporting on the unusual trading activity of a mystery trader who placed a profitable short equity bet to the tune of $21 million on the Aug. 10 move in the CBOE Volatility Index (VIX).