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Allocating to Hedge Funds at a C$600bn Pension Fund

October 2024




In the latest Allocator conversation on Top Traders Unplugged Podcast, Alan Dunne, spoke with Amy Flikerski, Head of External Portfolio Management at CPP Investments, the C$600bn pension fund, about their approach to hedge fund allocations.


Some of the topics they covered include:



✅ The evolution of the hedge fund landscape, including the commoditization of certain strategies, the rise of multi-strategy funds, and how the resulting "war for talent" affects allocators.



✅ Why CPP Investments chooses to run some hedge fund strategies internally while allocating capital to external managers, and how they determine which strategies warrant external allocations.



✅ How Amy’s team blends bottom-up and top-down considerations when constructing the portfolio.



✅ The types of managers CPP Investments selects for seed and accelerator capital, and the challenges of identifying talented early-stage managers.



✅ What makes a great manager, what makes a great allocator, and Amy’s advice for early-stage managers engaging with allocators.

 
 
 

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