The Hedge Funds Weblog
CalPERS allocates $300m to Emerging Managers
Talk about nice! From Global Pensions: The California Public Employees' Retirement System (CalPERS) has allocated a further $300m for emerging managers who have less than US$2bn in total firm assets.
Leading Edge Investment Advisors, an emerging manager fund-of-funds manager, and Quotient Investors, a manager in CalPERS Management Development Program (MDP), will each receive $150m. The $240bn fund last month invested $150m with FIS Group, an emerging manager fund-of-funds, and $200m with Redwood Investment Management, in CalPERS MDP.
Russell Read, chief investment officer, CalPERS said: "These recent public equity investments represent a $650m commitment to emerging managers. These firms give us access to a larger number of managers to generate positive, long term investment returns and reflect the diversity of the market."
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One Comment so far ...
CalPERS has always been at the forefront of investment with smaller undiscovered managers. It’s good to see some new names in the MOM space.
Comment on March 15, 2008 03:24 pm