HFM – The $233.6bn California Public Employees’ Retirement System (CalPERS), the largest public pension fund in the US, has made a series of redemptions from its hedge fund portfolio over recent months.
The pension’s most recent financial statements reveal that CalPERS withdrew a total of $40.3m from its Risk Managed Absolute Return Strategies (RMARS) programme in March, including a $35m partial redemption from the Wayzata Recovery Fund.
