Ventura County (Calif.) Employees' Retirement Association hired Bridgewater Associates to run $250 million in its All Weather risk-parity strategy, confirmed Donald Kendig, retirement administrator.
The board considered allocating 7% of its assets to global tactical asset allocation and risk-parity strategies, but elected to award the entire mandate to Bridgewater.
BlackRock was also a finalist for risk parity, while the $3.5 billion pension fund considered Grantham, Mayo, Van Otterloo & Co., Wellington Management and Pacific Investment Management Co. for GTAA strategies.
