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Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

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CalPERS Invests in Alabama Firm

Aug 25, 2013
Jing Chen

The California Public Employees’ Retirement System is the biggest investor in a $600 million fund run by Alabama-based Harbert Management.

Bloomberg reported that aside from CalPERS, which is the largest pension fund in the U.S., Harbert also received commitments from affiliates. CalPERS’ allocation amount was not disclosed.

Harbert, the original backer for hedge fund manager Phil Falcone, managed about $3 billion as of August 1. It specializes in acquiring interests in existing power assets with contracts to sell output.

CalPERS manages about $263.9 billion in assets for more than 1.6 million public employees, retirees, and their families and more than 3,000 employers.

 

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