CalPERS sees strong returns from PE co-investments

Calpers, private equity, pension fund, Goldman Sachs, BlackRock, AlpInvest, Hamilton Lane, HarbourVest, Neuberger Berman
Calpers headquarters is seen in Sacramento, California, October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker (UNITED STATES) - RTXPWO1
  • Co-investment/direct investment portfolio delivers five-year 17.6 pct return
  • Proposed outside partner expected to boost co-investment pipeline
  • Overall PE returns hit 12.6 pct over previous five years
Co-investments and direct investments have delivered significantly higher returns than other private equity strategies for California Public Employees’ Retirement System over the past five years, documents released by the system show. A Meketa Investment Group report included in CalPERS’s Feb. ...

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