Tuesday, September 16, 2014

CALPERS Withdrawing Its Hedge Fund Investments - Too Expensive, Too Complicated

The California Public Employees' Retirement System, the largest U.S. pension fund, said on Monday that it will pull all $4 billion it has invested in hedge funds because it finds them too costly and complicated. The $300 billion fund, known as Calpers, invests with firms including Och-Ziff Capital Management , Deepak Narula's Metacapital Management and Bain Capital's Brookside Capital and plans to pull the money out over the next year. The fund will also exit from fund-of-funds Pacific Alternative Asset Management Co and Rock Creek Group.

For more information visit Calpers dumps hedge funds citing cost, to pull $4 billion stake - Yahoo News

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