Sign up for free newsletter

 

The California Public Employees Retirement Plan (Calpers) is increasing its allocation to hedge funds to a maximum of US$3.2 billion from its current level of around US$1 billion.


Calpers is the largest US pension plan with approximately US$130 billion under management as of 31 March.


Calpers' investment committee approved the new target earlier this week as part of a reorganisation of its allocation to global equities.


A spokesperson for Calpers told Hedgeweek: "Basically two things happened at the Calpers Board meetings this week.  On Monday, our Board approved an annual plan for our Global Equity asset class for the next fiscal year.  As part of that plan, our staff intends to increase hedge funds to 2-4 percent of our total equity which is about US$80 billion."


The spokesperson added: "Currently, we have US$1 billion committed to hedge funds and have invested about half that amount. One billion on an eighty billion portfolio means we have a little more than 1 per cent allocated to hedge funds right now."


This means that Calpers had previously set aside US$1 billion for hedge funds, this figure will now rise to US$3.2 billion if fully allocated.


Subscribe to free daily newsletter
latestjobs
Junior Sales to Corporates (FX/IR)

Sat, 28 Feb 2015 00:00:00 GMT

VP IG Credit Sales, NA Investment Bank

Sat, 28 Feb 2015 00:00:00 GMT

Head Compliance- Asset Management

Sat, 28 Feb 2015 00:00:00 GMT

events
1 day 12 hours from now - Florida
4 days 12 hours from now - San Francisco
4 days 12 hours from now - London
specialreports