Thu, Oct 2, 2014
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   |   

Banner

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. Legal - Court throws out lawsuits related to Fannie Mae, Freddie Mac profits, Insider case by SEC is a step removed from Herbalife itself, SEC grants Citigroup waivers, easing hedge-fund curbs[more]

    Court throws out lawsuits related to Fannie Mae, Freddie Mac profits From WSJ.com: A group of Wall Street investors on Tuesday suffered a blow in their attempts to sue the federal government over their treatment of the shareholders of mortgage finance giants Fannie Mae and Freddie Mac af

  2. Launches - Goldman Sachs Asset Management launches GS Long Short Fund, Western & Southern launching international hedge fund, Lansdowne Partners plans energy hedge fund, RBC Global Asset Management launches new RBC Funds (Lux) - Asia Ex-Japan Fund, PVE Capital latest credit strategy to launch on the Sciens managed account platform[more]

    Goldman Sachs Asset Management launches GS Long Short Fund From Marketwatch.com: Goldman Sachs Asset Management has announced the launch of the Goldman Sachs Long Short Fund, which pursues high conviction investment ideas in global equity markets through a fundamental, bottom-up approach

  3. CalPERS’ move might alter hedge fund fees for good[more]

    Benedicte Gravrand, Opalesque Geneva: When CalPERS, the California Public Employees’ Retirement System, announced on September 15th that it was unwinding its hedge-fund portfolio, it was seen by many as is a significant blow to the sector’s appeal. The Fund is

  4. Opalesque Exclusive: Institutions eye private credit over traditional fixed income[more]

    Bailey McCann, Opalesque New York: Investing in private insurance, realty tax receivables, or investment-grade short-term accounts receivable may not spring to mind as a means of mitigating risk in a portfolio, but one firm, New York-based BroadRiver Asset Management is out to change all that. Th

  5. Short-term trading quant fund beats S&P since '09[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: A relatively new multi-strategy, market-neutral quantitative hedge fund has managed to outperform the S&P500 and the HFRX Global since 2009. New Jersey-ba