US - The California Public Employees' Retirement System (CalPERS) has allocated a further $300m for emerging managers who have less than US$2bn in total firm assets.
The $240bn fund last month invested $150m with FIS Group, an emerging manager fund-of-funds, and $200m with Redwood Investment Management, in CalPERS MDP.
Russell Read, chief investment officer, CalPERS said: "These recent public equity investments represent a $650m commitment to emerging managers. These firms give us access to a larger number of managers to generate positive, long term investment returns and reflect the diversity of the market."
In other CalPERS news, it also announced the introduction of online education classes through its CalPERS Education Center (CEC).
Up to now, all CalPERS member education classes were held in classrooms with instructors. Members had to sign up and get on a waiting list for the next class opening at a nearby CalPERS regional office. Now, CalPERS members with a computer and internet access are able to do the classes online.
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