Wed, Feb 10, 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. How Einhorn survived a nightmare year[more]

    From Bloomberg.com: Even when a hedge fund has an awful year, which was the case for David Einhorn's Greenlight Capital, there are lessons to be learned. Many funds would have had a tough time surviving a year like Einhorn experienced in 2015, when all the stars seemed to align against him and Green

  2. Legal - Hedge fund founder wins early release in U.S. insider trading case, Gramercy seeking $1.3 billion from Peru over land-bond dispute[more]

    Hedge fund founder wins early release in U.S. insider trading case From Reuters/Streetinsider.com: Former hedge fund manager Doug Whitman on Tuesday won a reprieve from serving the remainder of his two-year sentence for insider trading after several judges expressed skepticism that his 2

  3. Investing - David Einhorn finds a winner in Michael Kors[more]

    From Thestreetinsider.com: Greenlight Capital hedge fund manger David Einhorn took his lumps in 2015. The fund lost over 20 percent on the year amid bets gone bad being long a plunging SunEdison and short a couple high-flying FANG stocks. However, today Einhorn is again showing his stock picking pro

  4. Investing - Avenue Capital's Marc Lasry: We like European bank loans, Comment: A bunch of hedge fund managers are chasing the 'dream of crushing a major structural problem'[more]

    Avenue Capital's Marc Lasry: We like European bank loans From CNBC.com: European banks are under immense pressure, but at least one prominent hedge fund has found what it thinks is a good opportunity in the wreckage. Marc Lasry, co-founder and chief executive of hedge fund Avenue Capital

  5. Credit Suisse cherry picks hedge fund ideas[more]

    From FT.com: Credit Suisse Asset Management plans to cherry pick profitable concepts from hedge funds with the launch in Europe of a “best ideas” strategy. The investment arm of the Swiss bank said the strategy will separate it from other funds blighted by “overcrowding problems”. It comes at a time