CalPERS takes minority stake smaller managers

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US - The California Public Employees' Retirement System has placed $400m with three managers as part of its manager development programme and will take an equity stake in two of the firms.

CalPERS allocated $150m each to Paris-based TOBAM, a quant manager specialising in core strategies, and to San Francisco-based Victoria, an emerging markets manager. The managers will join CalP...

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