CalPERS and Strategic Investment Group selected Stux Capital Management to manage an initial $200 million active domestic large-cap equity allocation as part of CalPERS' $3 billion Manager Development Program, said Brad Pacheco, spokesman for the $165 billion California Public Employees' Retirement System, Sacramento. The portfolio will include both growth and value strategies, he said.
So far, CalPERS has awarded $2.2 billion to 14 emerging managers in the program. The fund previously hired SIG to find managers to run $2 billion of the fund, and Progress Investment Management to find managers for the remaining $1 billion. It hasn't yet been determined whether the remaining $800 million will be used for add-ons or new hires, Mr. Pacheco said.