California Public Employees Retirement System
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CalPERS reports seven times more in net gains vs. carried interest over 25 years
trueCalPERS said Tuesday in a long-awaited disclosure that since 1990 it had paid $3.4 billion in carried interest performance fees to private equity managers but had received $24.4 billion in net gains over that period.
Petco valuations through the years
trueCVC Capital Partners and the Canada Pension Plan Investment Board announced they had entered into an agreement to buy Petco Animal Supplies from TPG and Leonard Green & Partners for $4.6 billion.
CalPERS approves plan to gradually reduce assumed rate of return to 6.5%
trueCalPERS' board on Wednesday approved a risk-reduction plan that will shift investments away from equities and could reduce the expected rate of return of the nation's largest pension fund to 6.5% from 7.5%.
Private equity the best performer, CalPERS' Eliopoulos says
trueCalPERS Chief Investment Officer Theodore Eliopoulos opened up what was supposed to be a workshop on the pros and cons of private equity Monday with a quick conclusion: Private equity is CalPERS’ best performing long-term asset class.
CalPERS sells $3 billion in real estate fund interests to Blackstone
trueAs part of a plan to cut the number of external managers and realign its real estate portfolio, CalPERS is selling $3 billion of its investments in 43 real estate funds on the secondary market to Blackstone Group, the $296.7 billion pension fund announced Thursday in a news release.
CalPERS selects 3 global equity managers to run $6 billion
trueCalPERS hired three global equity managers to run a total of $6 billion and committed $1 billion to a new private equity fund.
CalPERS' private equity distributions, capital calls dropping in overheated market
trueCalPERS received distributions from private equity partners of $13.3 billion in the 18-month period ended June 30, a figure that is shrinking and expected to continue to shrink even further in coming years, said a review of its private equity program to be discussed at the pension fund’s investment ...
CalPERS private equity returns 8.9% in fiscal year 2015
trueCalPERS reported its private equity portfolio had a one-year net return of 8.9% in fiscal year 2015, trailing its benchmark (67% FTSE U.S. TMI + 33% FTSE All World ex-U.S. TMI plus 3%) by 221 basis points.
CalPERS moves toward reducing assumed rate of return after surplus return years
trueCalPERS’ finance and administration committee on Tuesday will discuss a plan that reduces the pension fund’s assumed rate of return only in good investment years.
California law adding heat to debate over fossil fuels
trueFresh from victory after California Gov. Edmund G. Brown Jr. signed legislation that will likely result in the nation's two largest pension plans CalPERS and CalSTRS divesting of coal company holdings, activist groups plan to step up efforts to urge the California plans and others worldwide to sell ...
Largest pension fund investors in First Data deal
trueKKR's First Data Corp. finally made its initial public offering debut this week, receiving net proceeds of $2.5 billion on the sale of 160 million shares. The company had hoped to raise between $2.8 billion and $3.2 billion.
CalPERS launches real estate consultant search
trueCalifornia Public Employees’ Retirement System, Sacramento, is searching for a real estate consultant, said an RFP on the $291 billion pension fund’s website.
California governor signs bill requiring CalPERS, CalSTRS to divest coal
trueCalifornia Gov. Edmund G. “Jerry” Brown Jr. signed into law Thursday a bill that requires CalPERS and CalSTRS to divest from investments in coal companies, he announced on his website.
CalPERS preps real estate consultant search
trueCalPERS will launch a search in October for a real estate investment consultant.
CalPERS global equity by strategy
trueCalPERS’ global equity program assets stood at $162 billion as of June 30, representing about 54% of the overall portfolio.