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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