California Public Employees Retirement System

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  1. CalPERS to release private equity carried interest data

    trueCalPERS officials said Thursday that the fund for the first time will be reporting performance fees it pays to private equity firms, ending a mystery of just how costly it is for the nation's largest defined benefit plan to work with general partners.

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  1. CalPERS hampered by fee complications

    trueCalPERS officials, embarking on a major project to cut the fund's roster of external money managers and reduce fees, are blindfolded because they can't track what is being paid to private equity firms, the most fee-intensive group.

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  2. CalPERS private equity program performance

    trueSince inception in 1990 through Sept. 30, investment multiples have ranged from 4.4x for CalPERS' investment in the Newbridge Asia III fund, to zero for its American River Ventures I holding.

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  3. California Senate passes bill requiring CalPERS, CalSTRS to divest from coal

    trueThe California Senate voted 22-14 in favor of legislation calling on both CalPERS and CalSTRS to divest from investments in coal companies.

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  4. BlackRock, Ceres create ESG governance guide for institutional investors

    trueBlackRock teamed up with Ceres to create a guide for U.S. institutional investors on engaging with companies and policymakers on sustainability issues, the two institutions announced Thursday.

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  5. Chevron shareholders support proxy-access proposal; near majority at Exxon Mobil

    trueChevron Corp. shareholders voted 55% in support of a proxy-access proposal, while Exxon Mobil Corp. shareholders voted 49.4% in favor of a similar access proposal, according to preliminary voting results of the companies' annual meetings Wednesday.

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  6. Proxy-access proposal at Chevron gaining pension fund support

    truePension funds have lined up in support of a proxy-access proposal filed by the New York City Retirement Systems at Chevron Corp., according to their proxy-voting disclosures.

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  7. CalPERS to launch pilot program for ESG criteria next month

    trueCalPERS next month will begin a one-year pilot program of its sustainable investment guidelines, the latest phase in its multiyear project to integrate ESG manager expectations across all asset classes.

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  8. Large pension fund fiduciaries fire back at share-buyback policies

    trueThe chief financial officers of two large states and two large cities on Wednesday issued an open letter in their role as pension fiduciaries criticizing the practice of share-buybacks by corporations and questioning whether companies “are adequately reinvesting for sustainable returns over the ...

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  9. CalPERS to invest A$1 billion in Asia-Pacific infrastructure with QIC

    trueCalPERS entered into a partnership with Australian money manager QIC, which will run A$1 billion ($805 million) in a customized Asia-Pacific infrastructure portfolio.

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  10. San Bernardino council approves bankruptcy restructuring plan with full payments to CalPERS

    trueThe city of San Bernardino’s Common Council on Monday approved a fiscal recovery plan to exit Chapter 9 bankruptcy that would repay CalPERS in full but only pay holders of the city’s $48.4 million outstanding pension obligation bonds about 1% as calculated on a present value basis.

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  11. CalPERS commits $50 million to co-investment

    trueCalPERS committed $50 million to a co-investment with private equity firm Tailwind Capital Partners, said agenda materials for the pension fund’s May 18 investment committee meeting.

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  12. CalPERS up 1.3% three-quarters through its fiscal year

    trueThe California Public Employees' Retirement System had a net return of 1.3% in the nine months ended March 31, according to its latest performance and risk update posted Monday. Its fiscal year runs through June 30.

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  13. San Bernardino judge rejects bondholders' lawsuit over pension debt

    truePension bondholders can't force the bankrupt California city of San Bernardino to pay them as much as the state's powerful retirement system, a judge ruled Monday.

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