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Small is Beautiful

CIO Peter Gilbert finds a $1 billion endowment can exploit opportunities denied to bigger funds, such as his former employer, the Pennsylvania State Employees’ Retirement System.

    Peter Gilbert: “We can be much more nimble” Photographs By Chris CrismanRunning a multibillion-dollar state pension fund certainly had its advantages. The ability to invest larger amounts in hedge funds and other private vehicles, and even lead other investors in such transactions, gives a retirement system negotiating power, allowing it to

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