CalPERS Commits $1.7B To Hedge, Private Equity Funds

Nov 9 2007 | 11:20am ET

The California Public Employees Retirement System has committed a total of $1.7 billion to five private equity funds and a pair of multi-strategy hedge funds.

The $254 billion public pension committed $75 million to Carlyle Strategic Partners II, $100 million to EMA Investments, $500 million to PCG Corporate Partners Fund II, $400 million to TGP Asia V and $400 million to WLR Recovery Fund IV.

CalPERS also made a $75 million commitment to Platinum Grove Contingent Capital Partners, a multi-strategy hedge fund with a focus on relative value trading managed by former Long Term Capital Management executives Myron Scholes and Chi-fu Huang. The system also committed $150 million to Canyon Special Opportunities Fund, which is “capped at $1 billion of investments and will not provide liquidity to investors (or performance fees to the managers) earlier than the end of 2009,” according to an internal memo.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR