California Public Employees Retirement System
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CalPERS CIO warns of lower equity returns in the future
trueCalPERS' CIO warned members of the pension fund's investment committee Monday that the six-year equity bull market that helped produce strong investment results is likely coming to an end.
CalPERS makes first direct commitment to emerging manager Siris Capital
trueCalPERS committed $75 million to private equity firm Siris Capital Group.
CalPERS to provide added source of contingent liquidity to derivatives clearinghouse
trueCalPERS has joined a fully committed repo facility with derivatives clearinghouse Options Clearing Corp. and securities lending agent eSecLending to provide contingency liquidity in the event of a counterparty default.
CalPERS looking at stricter governance policy for emerging markets
trueA new global governance policy expected to be approved by the investment committee of the $296.6 billion California Public Employees’ Retirement System will subject CalPERS investments in emerging markets to tougher standards.
CalPERS' asset allocation as of Jan. 31
trueAs of Jan. 31, CalPERS’ $293 billion portfolio was invested across 10 asset classes outlined by the fund. Public equities accounted for 52.6% of the portfolio, down from 54.2% in January 2014.
CalPERS management and performance fees by investment type in 2014
trueCalPERS spent $1.59 billion on external management and performance fees during its 2014 fiscal year. While that figure sounds astronomical, it was only 51 basis points of the fund’s $313 billion investment portfolio (as of June 30).
CalPERS commits $400 million total to 2 buyout funds
trueCalPERS has committed $400 million total to two private equity buyout funds.
CalPERS' return of 6.5% for 2014 lags benchmark
trueCalPERS returned 6.5% for the 2014 calendar year, 31 basis points below its 6.84% custom policy benchmark, agenda materials for the Feb. 27 investment committee meeting show.
Clean tech loses power in energy portfolios
trueOnce positioned to be a star of investors' portfolios, clean technology has been reduced to bit-part status, morphing into an opportunistic investment in a broader energy infrastructure strategy.
Stockton bankruptcy judge calls CalPERS a bully with 'glass jaw'
trueArguments raised by CalPERS and Franklin Resources in the municipal bankruptcy of Stockton were emphatically rejected by a federal judge, who accused the pension fund of bullying its way through the case.
CalPERS to receive $300 million as part of S&P's $1.5 billion settlements
trueMcGraw Hill Financial Inc. and its subsidiary Standard & Poor's Ratings Services have agreed to pay a total of $1.375 billion to settle lawsuits related to residential mortgage-backed securities and U.S. collateralized debt obligation ratings that S&P issued from 2004 to 2007.
Forecasting capital calls proves challenging for pension funds
trueA CalPERS-sponsored study on treasury management finds that only 38% of pension funds responding said they are confident in their ability to accurately forecast cash needs for private investments beyond 30 days.
Ex-CalPERS executive Villalobos facing corruption trial dies
trueAlfred Villalobos, a former California Public Employees' Retirement System board member scheduled to stand trial next month for conspiracy and bribery charges, has died in a Nevada gun club.
San Bernardino sued for favoring CalPERS over bondholders
trueSan Bernardino, the bankrupt California city, was sued for keeping up payments to CalPERS without giving equal treatment to pension bondholders, a conflict facing other struggling U.S. municipalities.
California state senator seeks to require CalPERS, CalSTRS to divest coal
trueCalPERS and CalSTRS would be required to divest their holdings in companies that produce coal under a bill to be introduced by the leader of the state Senate.