Thursday, 28 May 2015
Last updated 2 hours ago
Feb 7 2008 | 3:17am ET
The California Public Employees’ Retirement System has allocated $150 million to a minority-focused fund of hedge funds. The investment is first to an emerging manager fund of funds for CalPERS since it unveiled a $1 billion program to invest in them last year.
The nation’s largest pension fund invested in FIS Group, which also manages nine long-only funds, a third of which are run by African-Americans and another third by women.
“FIS will give us access to a larger number of skilled emerging firms to generate solid investment returns and reflect the diversity of the market,” Russell Read, chief investment officer, said.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…