The California Public Employees’ Retirement System (CalPERS) has allocated $100 million as seed money to Toronto-based global macro hedge fund firm Breton Hill Capital. This is CalPERS’ first seed investment with a hedge fund manager and is part of its absolute-return strategies program. Eyeing emerging managers, CalPERS has also invested some $500 million with customized funds of hedge funds. With $224 billion in market assets, it is the largest public pension fund in the U.S.
Click here for the release from CalPERS.
