Calif. Pension Trust Makes Alternatives A Priority

May 7 2008 | 12:12pm ET

The $782 million San Luis Obispo County (Calif.) Pension Trust last month unveiled its new asset allocation mix, which should give hedge fund and private equity managers a few million reasons to smile. 

The pension trust is making a foray into the alternatives asset class with a 5% allocation each to hedge funds, buyout/venture and commodities funds. At the same time, it is scaling down its large-cap U.S. equity portfolio from 32% to 26%, small- and mid-cap U.S. rquity from 10% to 9%, international large-cap equity from 12% to 11%, international small-cap equity from 4% to 3% and U.S. core fixed-income from 25% to 15%. 

In addition, the pension trust will begin four separate searches for infrastructure, p.e., fund of hedge funds, and commodities managers. Consultant Wurts and Associates will be given full discretion on the pension’s manager selection.


In Depth

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Future of Private Equity: New Opportunities, New Challenges

Feb 3 2017 | 6:41pm ET

The private equity industry’s astonishing rebound since the financial crisis has...

 

From the current issue of