California Public Employees’ Retirement System (CalPERS) is upping its alternative asset class to 7%, a 1% rise. For the $136 billion fund, that increase represents a $1.36 billion infusion to that piece of the pension fund’s investment pie, which includes $1 billion allotted to hedge funds. However, as a CalPERS spokesman noted, the planned asset allocation change does not affect the hedge fund portion. “The hedge fund was specifically set at $1 billion, and if there is a desire by the staff to increase the fund, it has to go back to the board,” he said.
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