Annual Review

US pensions in 2020

Full-year data and analysis of US public pensions’ 2020 hedge fund activity and the outlook for activity across asset classes in 2021
January 2021

Report Overview

US pensions committed less than $2bn to hedge funds in 2020 – but Q4 data and sentiment suggests new allocations will be forthcoming in H1, especially for credit hedge funds. For more data and analysis of US pensions’ activity last year, across all asset classes, read HFM’s latest research report.

Key takeaways include:

  • US public pensions committed $12.5bn to hedge funds during 2020
  • But with discontinued mandates factored in, flows were net $1.7bn
  • A third of US pension HF mandates were issued by Californian plans
  • 149 HF managers were hired by US pensions; 132 were terminated
  • Around 40% of US institutions are planning new HF allocations in H1