SACRAMENTO, Calif. (HedgeWorld.com)–The California Public Employees’ Retirement System allocated US$10 million to Tosca, a long/short hedge fund managed by ex-Tiger managers.
The investment with Tosca is the sixth hedge fund investment for the US$151 billion pension fund. Last month, the fund invested US$50 million in five hedge funds.
The hedge fund firms selected by CalPERS were: Andor Capital Management; Atticus Capital Management; Evnine-Vaughan Associates; Liberty Square Asset Management; and Symphony Asset Management.
A total of US$10 million was invested in each fund with an agreement to have the option to place up to US$50 million in each fund over time, except for Liberty Square Asset Management, which is limited to US$40 million.