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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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