Hedge Funds Review – US pension fund Calpers has seeded its first hedge fund, Breton Hill Capital, a Toronto-based global macro fund. It has also launched a search for companies to manage up to $2 billion.
The California Public Employees’ Retirement System (Calpers), the largest US pension fund, with assets under management of $224 billion, has put $100 million into a Toronto-based hedge fund. The allocation, the first seed investment with a hedge fund manger, is part of Calpers’ absolute return strategies programme.
