Close Close

Portfolio > Asset Managers

CalPERS Hires Additional Hedge Fund Manager

Your article was successfully shared with the contacts you provided.

SACRAMENTO (–Farallon Capital is that latest hedge fund manager to be included in the California Public Employees’ Retirement System’s US$1 billion hedge fund program.

The initial funding of the Farallon Capital Offshore fund for US$50 million was completed on Aug. 1. The fund is a multi-strategy event-driven fund, investing in merger arbitrage, non-merger related risk arbitrage, credit investments, restructurings and value, and liquidations.

Farallon’s assets under management total US$8 billion. According to CalPERS, the fund’s performance has been strong on both a relative and absolute basis. Farallon has maintained a broadly diversified portfolio in terms of investment style and geographic exposure. The portfolio currently has 65% of its exposure in the United States, 22% in developed international markets, 7% in emerging markets and the remaining 6% in cash, according to CalPERS documents.

The US$136 billion pension fund has now allocated US$352.5 million to nine managers in the program.


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.