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Hedge fund exit not about performance: CalPERS CIO

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The decision by the California Public Employees' Retirement System to leave hedge funds was not meant to send a message about that particular sector, the pension fund's new chief investment officer told CNBC on Wednesday.

SEC Charges Former CalPERS CEO and Friend

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The Securities and Exchange Commission has charged the former CEO of the California Public Employees' Retirement System (CalPERS) and his close personal friend with scheming to defraud an investment firm into paying $20m in fees to the friend's placement agent firms.

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