Wednesday, 4 March 2015
Last updated 4 hours ago
Sep 13 2013 | 10:53am ET
The California State Teachers' Retirement System has hired Hermes Fund Managers to fill a commodities mandate.
Hermes will be one of two commodities managers at the $150 billion public pension fund, the second-largest in the U.S. CalSTRS has not settled on a second manager, Reuters reports.
Hermes and the second manager will split $150 million.
CalSTRS first approved a commodities allocation three years ago, and had considered investing as much as $2.5 billion as an inflation hedge.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…