CalPERS makes second investment

The California Public Employees Retirement System (CalPERS ), the largest public employee pension fund in the US with $171bn in assets, has made further investments into hedge funds.

Progress Highcrest Advisers has announced its second investment under the CalPERS Manager Development Programme. The firm is investing $2.7m in Broadmark Asset Management, a US and Europe-based firm specialising in traditional growth equity and alternative investment strategies. It has also allocated $100m in assets

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