Calpers Lays Out Strategy to Improve Long-Term Private-Equity Performance

The nation’s largest state pension system is betting that more co-investments and better diversification can help improve the long-term performance of its private-equity program, which has fallen short of its return benchmarks.

Private-equity returns for the more than $460 billion California Public Employees’ Retirement System, or Calpers, improved across all time periods in the first half of this year.

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For more than eight decades, CalPERS has built retirement and health security for state, school, and public agency members who invest their lifework in public service. The pension fund serves more than 1.9 million members in the CalPERS retirement system and administers benefits for more than 1.4 million members and their families in our health program, making it the largest defined-benefit public pension in the U.S. CalPERS’ total fund market value currently stands at approximately $351 billion.

Source: Wall Street Journal

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