Comment: Chris Sullivan
The hedge fund industry has always had a bit of a schizophrenic relationship with the media, particularly here in the US
08/06/2011
CalPERS redeems from hedge fund portfolio
The $233.6bn California Public Employees’ Retirement System (CalPERS), the largest public pension fund in the US, has made a series of redemptions from its hedge fund portfolio over recent months.
The pension’s most recent financial statements reveal that CalPERS withdrew a total of $40.3m from its Risk Managed Absolute Return Strategies (RMARS) programme in March, including a $35m partial redemption from the Wayzata Recovery Fund.
The move followed two months of significant redemptions, with RMARS withdrawals totalling $44m in January and $24m in February.
CalPers also received a number of ordinary course distributions made by funds managed by Canyon Capital Advisors, receiving $39.5m and $15.8m from the Canyon Special Opportunity Fund in January and February respectively, and $2.2m and $1.6m from the Canyon Value Realization Fund over the same two months
CalPERS currently allocates $5.5bn to hedge fund strategies, which are included in the pension’s global equity portfolio.
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Mayfair allure remains strong for London funds
Mayfair’s position as the undisputed heartland of London’s hedge fund community was called into question last month
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The pressure cooker purred in January and February, squealed in March and April, and, this week, finally blew a gasket
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