Calif. Pension Eyes Four Event-Driven Managers

Oct 25 2012 | 10:43am ET

A nearly $10 billion California pension fund is preparing to make an event-driven hedge fund buy.

The Orange County Employees Retirement System yesterday heard from the four hedge funds it plans to hire for its event-driven allocation. OCERS plans to make an initial allocation of 4% of its direct hedge fund program to the four, with a maximum allocation of 8%.

The $9.6 billion public pension fund's board has recommended the hire of Archer Capital Management, Beach Point Capital Management, Perry Capital and Venor Capital Management.

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