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.
Free Webinar: The Primary Step in Creating Value: How the Right Corporate Governance Can Drive Growth
- To what extend can the relationship between the GP and board impact the company?
- How can GPs ensure trickle down change in organisations?
- How can technology help bridge the gap between GPs and management boards?
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
Can’t stop reading? Read more
Blackstone taps bond market as private credit BDCs end issuance drought
Blackstone taps bond market as private credit BDCs end issuance drought Blackstone's private...
EQT raises the stakes with revised $12.3bn bid for Intertek
EQT raises the stakes with revised $12.3bn bid for Intertek EQT has tabled an improved takeover...
Temasek’s Azalea bets on evergreen structure to democratise private equity access
Temasek's Azalea bets on evergreen structure to democratise private equity access Azalea, a unit...