CalPERS To Add Event-Driven, Increase Macro, Market-Neutral

Feb 26 2013 | 1:03pm ET

The California Public Employees Retirement System plans to rejigger its hedge fund portfolio with the addition of event-driven strategies and a major new emphasis on global macro.

The public pension fund, the biggest in the U.S. with $254.5 billion in assets, plans to add a 5% weight within its hedge fund portfolio to event-driven, up from nothing, and to quintuple its global-macro weight to 10%, Bloomberg News reports. CalPERS has about $5 billion invested in hedge funds.

The pension will also boost its target allocation to long/short equity to 15% from 11% and to equity-market neutral to 10% from 3%. To fund the changes, it will slash its fund of hedge funds target from 19% to just 5%.


In Depth

Israeli Hedge Fund Harnesses Big Data

Jul 28 2014 | 8:10am ET

Apica Green is a multi-million dollar Israeli hedge fund that is based in Tel Aviv...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

Compelling Opportunities In The Alternatives Space

Jul 29 2014 | 9:33am ET

In an environment where many asset classes seem expensive by historical standards...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note