CalPERS Seeks Hedge Fund Help At Milken Conference

May 1 2013 | 12:56am ET

The California Public Employees' Retirement System took its search for more hedge fund professionals to an investment conference.

Egidio Robertiello, during a presentation at Monday's Milken Institute Global Conference in Beverley Hills, Calif., said that the nation's largest public pension fund aims to add four members to its absolute-return strategies team. And he asked members of the audience to send him their résumés, Pensions & Investments reports.

Robertiello's team currently has six members.

Robertiello also discussed CalPERS' current thoughts on the hedge fund industry, noting that hedge funds "have not made enough concessions" or "gone far enough" in cutting fees. He said that pension funds should push for "a pension fund share class at 1% and 10%."

CalPERS is also "exploring" a switch from separate accounts to a managed-account platform for its direct hedge fund investments, Robertiello said. And he said that the pension continued to research hedge fund replication strategies.

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