US pensions in Q3 2020

Data and analysis on US public pensions’ interest in hedge funds and other asset classes in the third quarter of 2020
November 2020

Report Overview

Credit and real estate funds won the bulk of hedge fund commitments from US public pensions in Q3, accounting for $900m of $2.2bn, but it was the second quarter in a row that gross flows into the industry shrank. For more analysis of US pensions’ activity in Q3, read HFM’s latest research report.

In the report:

  • US public pensions have committed $10.5bn to hedge funds YTD
  • With discontinued mandates factored in, flows are net $1.1bn YTD
  • Half the value of Q3 commitments came from West Coast pensions
  • Over twice as many hedge funds were terminated in Q3 than hired
  • Sentiment on hedge funds remains mixed but with a positive bent