CalPERS hired emerging managers TOBAM and Victoria Emerging Markets to manage $150 million each, and added $100 million to existing emerging manager Quotient Investors, confirmed spokesman Clark McKinley.
TOBAM will run the money in a quantitative core equity strategy, while Victoria will manage an emerging markets equity portfolio.
Quotient Investors manages an environmental, social and governance investment; it already runs $100 million in large-cap core equities and $50 million in small-cap core equities for the $230.1 billion California Public Employees' Retirement System, Sacramento.
All three managers are part of CalPERS' manager development program.
Mr. McKinley said CalPERS also agreed to provide working capital to TOBAM and Victoria in exchange for a minority ownership share in the companies. CalPERS already owns a minority stake in Quotient.