The California Public Employees’ Retirement System, the largest U.S. pension, invested for the first time in a hedge-fund startup, putting $100 million into a Toronto-based firm.
The deal with Breton Hill Capital, which invests in equities and currencies as well as commodity and financial futures, represents Calpers’ first foray into seed funding for a money manager, Brad Pacheco, a Calpers spokesman, said yesterday in a telephone interview.
Calpers, with $223.8 billion in assets, earned almost 21 percent on its investments in the 12 months through June, its largest gain in 14 years. The fund invests $5.3 billion, or 2.4 percent of its portfolio, in hedge funds, according to a statement….
Find out more at http://www.bloomberg.com/news/2011-09-23/calpers-puts-100-million-of-seed-money-in-toronto-hedge-fund.html
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