The $72.5 billion Pennsylvania Public School Employees' Retirement Board decided to eliminate its absolute return holdings in a bid to increase its public equities portfolio at trustees' latest meeting.
The move to reallocate the nearly $6 billion portfolio is expected to be implemented over the course of months or years, officials said.
Absolute return managers as of June 30, 2021 were: Aeolus Capital Management; AKAZ Investment Partners; Bridgewater Associates; Brigade Capital Management; Capula Investment Management; Carlyle Aviation Management; Caspian Capital; Falko Regional Aircraft; Garda Capital Partners; HS Group; Independence Reinsurance Partners; Nephila Capital; Oceanwood . . .
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