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.
By Geoffrey Ho
The top stories this week were the High Court's decision to block the £12bn annuity transfer from Prudential to Rothesay Life, and a separate court ruling that 'raises the bar' for pension rectification exercises.
Guaranteed minimum pension (GMP) equalisation has soared to the top of pension schemes' to-do lists, with 58% stating it is a priority project, research from Equiniti has revealed.
Professional Pensions is holding its defined contribution (DC) conference on 4 September.