CalPERS committed a total of $50 million to five hedge funds as part of the system’s highly touted $1 billion commitment to the alternatives category.
It committed $10 million each to: Andor Technology, a U.S. technology stock firm recently created from the split of Pequot Capital Management; Atticus Capital Management’s global fund, an aggressive merger arbitrage fund; Evnine-Vaughan Associates, a dollar-neutral statistical arbitrage fund; Liberty Square Asset Management, a long-short international equity manager; and Symphony Asset Management’s Rhapsody Fund, a credit-oriented convertible arbitrage strategy.
The $149 billion California Public Employees’ Retirement System, Sacramento, has the option to place $50 million in each of the funds, except for Liberty Square, where it is limited to $40 million.
