CalPERS hired long-only manager Redwood Investment Management to run $200 million and also committed $150 million to FIS Group, a manager of emerging managers, confirmed spokesman Clark McKinley. Redwood is the second hire for $246 billion California Public Employees Retirement Systems Manager Development Program II, in which CalPERS takes an equity stake in emerging firms. FIS, the first firm funded for CalPERS manager-of-emerging-managers program, was placed on a preapproved list in August by the Sacramento-based system. The funding sources havent been determined.
CalPERS chooses Redwood, funds FIS
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