CalPERS soliciting bids for partners to oversee PE program

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
  • Partners will have discretion over investments, expected to work with PE staff
  • Solicitation period ends Jan. 19
  • Finalists expected to be interviewed at March or April investment-committee meetings
California Public Employees’ Retirement System is formally soliciting proposals from potential strategic partners to manage some of its $40.2 billion private equity program. The partner will have discretion over how CalPERS invests PE, but will work with the $354.7 billion public pension’s ...

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