Wed, May 25, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

CalPERS announces additional $400m for emerging managers

Wednesday, April 27, 2011
Opalesque Industry Update - CalPERS Manager Development Program II (MDP II) announced on Wednesday that it has committed $400m to three emerging managers.

The pension fund has allocated $150m each in return for equity stakes and hopes that such investments will help nuture “potential diverse major players in the financial markets,” said Joseph Dear, CIO at CalPERS. The selected firms include France based institutional investment firm TOBAM, that specializes in quantitative core strategies, and California-based Victoria, that focuses its investing on emerging markets. The announcement also included news of an additional $100m to be given to Quotient, which has been in the MDP II program since 2008.

According to the firm’s website, TOBAM was founded in 2006 by Yves Choueifaty and his colleagues within Lehman Brothers Asset Management in Europe. The firm was taken private by employees in 2008. TOBAM’s flagship strategy is termed “Anti-Benchmark” and is a quant process that “provides a broad exposure to the available risk premia and avoids the concentration of risk that is found in Market Cap-Weighted benchmarks.”

Victoria is the firm founded by Josephine Jiménez in 2007. According to the firm's website "Victoria 1522 offers separately-managed accounts that enable institutional and high net worth individual investors to focus on areas of potential opportunity in emerging markets: frontier economies, small-cap companies, core (diversified) emerging markets, and select (concentrated) strategies." Jiminez is well known veteran of the emerging markets area, she has been investing in those markets since the late 1980s, when they were originally thought of as "frontier markets". She was manager of the first no-load mutual fund focused on emerging markets, the Montgomery Emerging Markets Fund.

Full Press Release

kb

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Paul Tudor’s hedge fund trims fee amidst poor performance, keep investors[more]

    Komfie Manalo, Opalesque Asia: Paul Tudor’s $11.6bn hedge fund firm Tudor Investment Corp. announced on Monday it would slash down fees of one of its biggest fund to 2.25% of assets and 25% of profits amidst backlash arising from poor performa

  2. West Virginia objects to Alpha Natural sale to hedge fund[more]

    From AP/Heraldcourier.com: West Virginia's environmental authority has filed an objection to the proposed $500 million sale of Alpha Natural Resources' assets to a hedge fund, arguing that the deal could leave the state holding hundreds of millions in reclamation liabilities. The Register-Hera

  3. Mitch Petrick leaves Carlyle as his hedge fund unit suffers losses while assets expand[more]

    Komfie Manalo, Opalesque Asia: Mitch Petrick will be leaving Carlyle Group as head of its hedge funds unit overseeing about $34bn as of March 31, after several funds under his management suffered losses while assets expanded, various media reported. Petrick joined Carlyle in 2010 and was a former

  4. Institutions - Kentucky pension leans into hedge funds amid governance turmoil, Korea's NPS names finalists for initial $1 billion hedge fund-of-funds allocation[more]

    Kentucky pension leans into hedge funds amid governance turmoil From AI-CIO.com: The Kentucky Retirement Systems moved to increase its hedge fund allocation as controversy reigned over fund leadership. Following a string of high-profile hedge fund exits, the Kentucky Retirement Systems (

  5. Fund Profile - The hedge fund that couldn't stay open long enough for a big payday[more]

    From Bloomberg.com: Toby Dodson waited six months for his bet against a fragile Portuguese bank to pay off. But before the reckoning, word came down from his hedge fund bosses at Achievement Asset Management in Chicago: get ready to clear out your desk and unwind your trades, we’re shutting down. Th