CalPERS Approves Additional Hedge Fund Allocation

SACRAMENTO, Calif. (HedgeWorld.com)–Trustees of the California Public Employees’ Retirement System on Monday approved the allocation of an additional US$1 billion to hedge funds.

Half of the allocation is earmarked for funds of hedge funds, according to officials at the US$168 billion pension fund. The additional capital is expected to help the pension fund move more of its assets into non-traditional investment strategies that generate greater risk-adjusted returns, officials said.