CalPERS invested an additional $242.5 million in its infant hedge-fund program. The $140 billion California Public Employees Retirement System, Sacramento, now is more than 30% toward its initial goal of allocating $1 billion to the area.
The system gave initial funding of $50 million to Brookside Capital Partners, a long-short fund run by Bain Capital; and $17.5 million to Zaxis Partners, a long-short fund run by Apex Capital. It gave additional funding to: Andor Capital, $40 million; Tosca Fund, $40 million; Atticus Capital, $30 million; Evnine-Vaughan, $30 million; Symphony, $20 million; and Liberty Square, $15 million. Each initially received $10 million.
Separately, CalPERS staff recommended hiring Cooper Consultants to review its process for evaluating pension consultants. Cooper was the only firm to submit a proposal stemming from a May RFP.