InvestorForce has secured another round of funding totaling $52 million and acquired Altvest.com, a website devoted to the hedge fund industry. The funding included a combined $25 million from the California Public Employees Retirement System, Sacramento, and Thomas Weisel Capital Partners; the investment stems from a strategic partnership between the $172 billion pension fund and the private equity firm struck last January to make opportunistic investments in the Internet, technology and communications industries.
InvestorForce now will provide traditional investment and hedge fund data and manager search capabilities to institutional investors and consultants. The Altvest site offers a database of more than 1,700 hedge funds. Altvest.com was acquired in a for-stock transaction; terms of the deal were not disclosed.