San Jose (Calif.) Federated City Employees Retirement System hired six managers to run a total of $245 million, confirmed Ronald Kumar, investment officer.
The $2 billion pension plan hired Vontobel Asset Management to run $135 million in emerging markets equity and Aberdeen Asset Management to run $20 million in frontier markets equity. It is the plan's first investments in emerging and frontier markets equity, Mr. Kumar said in a telephone interview.
Investment consultant Meketa Investment Group assisted.
The pension fund also invested a total of $90 million in four hedge funds as part of its absolute-return allocation — $30 million to Hudson Bay Capital Management, multistrategy; and $20 million each to Claren Road Asset Management, relative value; Sandler Capital Management, long/short equity; and Horizon Asset Management, Japan long/short equity.
Absolute-return consultant Albourne Partners assisted.
