The California Public Employees’ Retirement System on Wednesday said it will invest an additional $600 million in its corporate governance program, allocating funds to activist hedge funds. The activist public pension fund will make co-investments in activist hedge funds SPARX, Shamrock, Hermes European Focus Fund and Taiyo Pacific Partners, in addition to other investments. The additional funds will be added to the $4.4 billion CalPERS already has allocated to the Corporate Governance funds. CalPERS high profile corporate governance partners include Relational Investors LLC and Knight Vinke Asset Management, both activist hedge funds that engage management of companies to make changes that often include an auction of key assets. “"By improving poor financial performers, our corporate governance investments show that we can do very well by doing good in the marketplace." said Rob Feckner, CalPERS board president.—Ron Orol
See CalPERS' corporate governance info
Continue reading below
