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CalPERS plans search for hedge fund managed account platform

P&I – CalPERS will issue an RFP for a managed account investment platform provider for its $5.2 billion hedge fund portfolio, pending approval by the board of trustees of the $269.1 billion pension fund at its Oct. 14 meeting.

The pension fund also made several significant changes to its strategy allocation within the hedge fund portfolio. Changes include the elimination of a 31% allocation to hedge funds of funds, and investing that $1.6 billion directly into hedge funds, said Egidio H. “Ed” Robertiello, senior portfolio manager, in an annual review of the absolute-return strategies portfolio that will be presented to the board of the California Public Employees’ Retirement System, Sacramento.

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