CalPERS Chooses Dynamic Hedging Strategies Names Palomar, BEA To Manage FX Exposure
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The California Public Employees Retirement System (CalPERS) has chosen London-based Palomar Partners and New York-based BEA Associates to manage a currency overlay hedging program for its $2 billion worth of overseas exposure. The two were named last week after a five month search, CalPERS officials confirm, and are expected to begin around the first of May.
CalPERS, which received more than 20 proposals from managers in the U.S. and the U.K., whittled the list down to six late last month, making
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