That is what the OTPP does. That the hedge fund exists to fund pensions is irrelevant. If you dig into the investors behind other funds, you are likely to find that they are also investing to help fund their own retirement.
OTPP is a pension fund. Hedge funds are a different beast.
https://www.otpp.com/investments/performance/investment-stra...
"Additionally, we complement our efforts by using external hedge fund managers, which gives us access to unique approaches that both add performance and diversify risk."
OTPP invest in hedge funds. But they aren't one themselves. Hedge funds are a specific creature. Legally. And in terms of how they trade.
The political opposition to hedge funds has to do with the fact that they often cater (or are assumed to cater) to the 1%. Who cares if it is 200B? It probably represents the financial interests of tens-of-thousands of teachers.
They are the 1% you are talking about. I expect what you're really saying is that the political opposition opposes strangers who are perceived as being different, whereas the top 1% comprised of teachers are relatable and maybe even your close friends so you can be happy for their success.
The Ontario Teacher's Pension Fund averages member 600k per member in assets (200B divided by 330k members). I don't know the Canadian stats but having around 1M in assets as a 60 year old places them around the top 20% or 10% cut-off - not the top 1%.
https://dqydj.com/top-one-percent-united-states/
Regardless, I don't care if people get rich but it is clear that occupy Wall Street was a movement against the perceived notion that billionaires were exploiting the rules - not that teacher's pensions funds were gaining 2% per year more than an index fund.
That we agree on. Just like the OTPP has been known to do.
https://financialpost.com/news/fp-street/ontario-teachers-pe...
This isn't some teachers trying to eek out a retirement. It is one of the most prolific hedge funds in existence. They are literally what the movement was against, but the movement only served to help them.
Not that I expect anyone thought that they were buying up shares from retail investors to put the movement in motion. They had to know they would help other funds to hurt the one fund being targeted. It shouldn't surprise anyone that hedge funds have made out like bandits in this.
John Simon's personal $1B fund is far more rich than a 10000-member $100B pension fund.
The Ontario Teachers Pension Plan, who was holding GME, is one of the largest hedge funds in existence, worth over 200 billion dollars. For comparison, Maverick Capital is worth only $15 billion. That is not a case of some little guy teachers making out well, it is the rich (if not the richest) hedge funds getting richer.