Subject: Re: uh-oh!
From: "Daniel McHale" <[email-masked]>
To: "Eric Schwerin" <[email-masked]>
Cc: "Mike Mathis" <[email-masked]>, "Arlene Busch" <[email-masked]>, "Hunter Biden" <[email-masked]>, "Joan Peugh" <[email-masked]>, "Lauren Boyle" <[email-masked]>, "Chuck Harple" <[email-masked]>
Date: Tue, 16 Sep 2014 11:21:34 -0400

When pension investors start pulling the plug on "hedged" products usually
means we're at a market top and about to sell of hard as they, along with
mom and pops, are the ultimate contra indicators.  My bet is that the the
new mgt at Calpers wants more control / salaries, and thus are going to
follow the Ontario Teachers model.

On Tue, Sep 16, 2014 at 10:50 AM, Eric Schwerin <
[email-masked]> wrote:

> Very interesting - but what is more interesting is that CALPERS is forming
> a partnership with UBS to invest in infrastructure.  Clearly the trend
> among these big funds is away from the 2 and 20 model/commingled funds
> model and to more managed account and/or GP models.
>
>
> Eric D. Schwerin
> Rosemont Seneca Partners, LLC
> 1010 Wisconsin Ave., NW
> Suite 705
> Washington, DC 20007
> (202) 333-1880
> [email-masked]
> *P* *Consider the environment before printing this email.*
>
> On Sep 16, 2014, at 10:46 AM, Mike Mathis <[email-masked]> wrote:
>
> Don’t know if you saw this…
>
>
> http://dealbook.nytimes.com/2014/09/15/nations-biggest-pension-fund-to-end-hedge-fund-investments/?ref=business
>
>