Alameda County Employees' Retirement Association, Oakland, Calif., hired P/E Investments to run $25 million as its new “currency-alpha” manager, according to recently released minutes of the April 18 board meeting.
The $5.7 billion pension fund hired P/E to replace FX Concepts, which was terminated at the same meeting. The size of FX Concepts' portfolio and reason for the termination could not be learned by press time.
Investment consultant Strategic Investment Solutions assisted the pension fund.
Separately, the board approved committing an additional $25 million to Warburg Pincus Private Equity XI. The plan committed $50 million to the buyout fund in September.
Vincent Brown, CEO, did not return a telephone call by press time.
