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CalPERS Is Done with Hedge Funds; Paid $135 Million in Fees Last Year for 7.1% Return
Bloomberg 
Sept. 16, 2014
"The pension fund paid $135 million in fees in the fiscal year that ended June 30 for hedge fund investments that earned 7.1 percent, contributing 0.4 percent to its total return, according to Calpers figures.... Calpers earned 18.4 percent in the fiscal year as global stock indexes rose to records. The fund's market value reached $300 billion for the first time July 3, making it bigger than all but two companies on the Dow Jones Industrial Average."
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