Denali Advisors has won a $100m US equity mandate from CalPERS, thelargest public pension fund in the US.
In addition, CalPERS will invest $2m in Denali, as part of their fund manager development program (MDP). Denali is the fifth firm to be included in the MDP, a scheme run in conjunction with Progress Putnam Lovell Advisors.
Denali, which was established earlier this year, is a Native American investment firm specialising in quantitate value-orientated equity investment strategies.
Robert Snigaroff, the former chief investment officer of the San Diego Employee's Retirement Association (SDCERA) founded Denali, and is president and CIO of the new manager.
Denali's client list now includes CalPERS and SDCERA.
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