California Public Employees Retirement System
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CalPERS staff bonuses up 14% to $9 million in fiscal year 2014
trueCalPERS paid $9 million in staff bonuses in fiscal year 2014, up 14% from the previous year.
CalPERS to go unchallenged in San Bernardino bankruptcy plan
trueSan Bernardino said it won't try to reduce its obligations to the $296 billion California Public Employees' Retirement System despite a recent ruling opening the powerful pension fund to such challenges in bankruptcy court.
CalPERS makes 3 private equity commitments
trueCalPERS committed $437 million to Bridgepoint Europe V, shows a list of investments that were part of the Nov. 17 investment committee meeting materials.
CalPERS will find it tough to sustain strong real estate returns, consultant says
trueIt is unlikely that CalPERS' $25.6 billion real estate portfolio will be able to sustain the strong returns produced in the last three years, said a report by the $296 billion pension fund's real estate consultant, Pension Consulting Alliance.
CalPERS supports 85% of management proposals in Q3
trueCalPERS voted on 10,937 resolutions (10,895 management and 42 shareowner), supporting 85% of management and 64% of shareowner proposals in the quarter. Those figures were little changed from the previous quarter, when support levels were 85% and 64%, respectively.
CalPERS gives $80 million to Grosvenor for in-state private equity fund
trueCalPERS committed $80 million to a new California-focused private equity fund to be run by Grosvenor Capital Management, said spokesman Joe DeAnda on Wednesday.
Stockton bankruptcy plan approved with no pension cuts
trueStockton, Calif., won court approval of its plan to exit bankruptcy by paying bond investors pennies on the dollar while fully protecting public-worker pension benefits, in a case that has been watched by other cities in the state facing heavy retiree costs.
CalPERS strips board vice president of title, censures another member
truePriya Mathur, vice president of CalPERS' board, has been stripped of her title and other leadership positions for violating state financial reporting requirements. She remains on the board.
CalPERS sticks with PCA as private equity consultant
trueCalPERS rehired Pension Consulting Alliance as the pension fund’s private equity consultant on Monday.
CalPERS launches search for federal policy lobbyists
trueThe firms chosen would be part of a pool and would develop strategies to achieve CalPERS' desired results on federal legislation, regulations, issues, projects or events, according to an RFP posted Friday.
CalPERS' fixed-income portfolio returns 7% annually over 10 years
trueCalPERS, in its latest annual review of the fund's global fixed-income program, said the $46.9 billion pool returned 7% annually in the 10 years ended June 30, 72 basis points above its benchmark. By comparison, the Barclays U.S. Aggregate index returned 5.43% annually during the same period.
CalPERS gives OK to increase commitments to 3 managers
trueCalPERS' investment committee has cleared the way for the pension fund's private equity staff to make more investments with its three largest private equity partners, Apollo Global Management, Carlyle Group and Blackstone Group, allowing billions of dollars more to go to the private equity giants.
Panel offers differing views on governance with public technology companies
trueAn asset owner, money manager and academic faced off in a panel discussion at the Council of Institutional Investors conference in Los Angeles expressing widely different views on the degree of toughness investors should bring to bear to demand better corporate governance at technology companies ...
Impact of Stockton decision uncertain
trueIt remains to be seen whether a judge’s statement Wednesday that bankrupt Stockton, Calif., can cancel its contracts with CalPERS will have an impact on retirees and weaken vested pension rights.
CalPERS shouldn't get special treatment in bankruptcy case, judge says during hearing
trueCalPERS doesn't deserve special protection as a creditor in a municipal bankruptcy, said the judge overseeing the debt restructuring of Stockton, Calif., in a case that pits public pension fund advocates against Wall Street creditors.