CalPERS Commits $300M To Japanese, Korean Activist Funds

Jul 2 2008 | 12:40pm ET

The California Public Employees Retirement System is betting on a pair of Asian activist funds to give its corporate governance portfolio a boost.

The $235 billion fund committed $200 million to Taiyo Cypress Fund, which takes an activist approach to Japanese public and private companies.

TCF is a joint venture between Taiyo Pacific Partners, a California-based firm, and WL Ross & Co., a New York-based private equity shop. The fund has a target size of between $2 billion to $4 billion.

The portfolio will hold eight to 10 publicly-traded companies representing no less than 65% of the portfolio, with the remainder of the portfolio to be comprised of private companies.

CalPERS is also committing $100 million to Lazard Korea Corporate Governance Fund, an open ended Irish-listed offering launched in 2006 with a targeted capacity of roughly $600 million.

The fund’s strategy is to invest in small and mid-sized Korean companies that it deems undervalued with “significant room to improve governance principles and practices.”

“Notably, the fund will pursue its objective through a collaborative discussion between company management, the fund and other shareholders, rather than a confrontational approach,” the firm said in an internal memo.


In Depth

Hedge Funds Take Interest In ‘Soft Deposits’

Nov 19 2014 | 11:56am ET

New York-based Winchester Equities, headed by Avi Benamu and Jack Hazan, funds soft...

Lifestyle

Cohen Buys $101 Million Sculpture

Nov 12 2014 | 9:17am ET

Steven Cohen was the sole bidder for a rare Alberto Giacometti sculpture at Sotheby...

Guest Contributor

Why The Big Money Is Going To Europe

Nov 14 2014 | 6:03am ET

Peer-to-peer lending was invented with the individual investor in mind. But despite...

 

Sponsored Content

    For Hedge Funds, Mastering Data Is Key To Success

    Nov 4 2014 | 9:45am ET

    Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

November 2014 Cover

Building a better market

Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.