CalPERS Allocates $150M To Emerging FoF Manager

Feb 7 2008 | 4:17am 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.


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Star Mountain: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of