San Diego County Employees Retirement Association plans to add new hedge fund strategies for its "alpha engine," said David Deutsch, CIO for the $4.9 billion pension fund. Mr. Deutsch said the fund plans to seek either a hedge fund of funds or a multistrategy hedge fund or "whatever else comes along of an absolute return nature that fits with the other components." No further details were known at this time. There are now seven managers in San Diego's alpha engine, which accounts for $950 million of the fund's $1.4 billion in domestic large-cap equity exposure. Eventually, Mr. Deutsch expects the alpha engine to comprise the entire U.S. large-cap portfolio.