SACRAMENTO, Calif. - CalPERS invested an additional $242.5 million in its infant hedge-fund program. The $140 billion California Public Employees' Retirement System 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.
The system also committed an additional $32.5 million to Buchanan Street Partners, bringing the total allocation to $92.5 million. Buchanan Street is one of the managers in the system's California Urban Real Estate Program, which provides mezzanine and structured financing for commercial, multifamily residential and mixed-use projects in California.
Separately, CalPERS hired 10 firms to serve in a pool of real estate appraisers. They are: American Appraisal; CB Richard Ellis; CBIZ Valuation; Cushman & Wakefield; Integra Realty; James W. Sewall; Joseph J. Blake; Landauer Realty; PricewaterhouseCoopers; and Standard & Poor's.