CalPERS board hears more detail on direct investment plan

Calpers, private equity, pension fund
Calpers headquarters is seen in Sacramento, California, October 21, 2009. REUTERS/Max Whittaker (UNITED STATES BUSINESS) - RTXPWO3
  • Board approved exploring direct investments last month
  • PE program would continue to invest in funds, emerging managers
  • Major questions around governance, outside board remain
California Public Employees’ Retirement System’s board expressed cautious optimism on the prospects of a new private equity investment model its staff introduced to the public last month. The plan, CalPERS Direct, would launch two new investment platforms managed by a ...

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