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The $300 billion pension fund is slated to exit 24 hedge funds because of their “complexity, cost, and the lack of ability to scale.”
The highly influential pension fund California Public Employees’ Retirement System (Calpers) is exiting 24 hedge funds and six hedge fund-of-funds with a combined value of approximately $4 billion, officials say. Calpers officials announced that they are eliminating the hedge fund program, dubbed the Absolute Return Strategies (ARS) program, “as part of an ongoing effort to...
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