Searches and Hires

Sacramento County invests $80 million in 2 hedge funds, $110 million in U.S. equities strategy

Sacramento County (Calif.) Employees' Retirement System invested a total of $80 million in two hedge funds and $110 million in a U.S. equities strategy, confirmed chief investment officer Steve Davis in an email.

At its meeting Wednesday, the $9 billion pension plan invested $40 million in Marshall Wace Global Opportunities Fund, a long/short equity fund; and another $40 million in KLS Diversified Fund, a relative-value hedge fund managed by KLS Diversified Asset Management.

The SCERS board also approved a $110 million investment in the D.E. Shaw Broad Market Core Alpha Extension 130/30 strategy, within the domestic equity asset class.

Separately, the pension fund's investments with two Asia-focused opportunistic real estate funds managed by Carlyle Group — a $5.8 million investment with Carlyle China Realty and $26.1 million with Carlyle China Rome Logistics — remain on watch due to changes in management structure and Carlyle's plan to exit the Asia real estate business by year-end.