CalPERS plays down ambitious plan to become direct PE investor

CalPERS, pension fund, private equity
Calpers headquarters in Sacramento, California, on October 21, 2009. Photo courtesy Reuters/Max Whittaker
California Public Employees’ Retirement System clarified goals for a revamp of its private equity investing, saying its proposed “direct” investment vehicles will work exactly like a “tried and true” separately managed account. CalPERS has been grappling with how to keep its PE allocation ...

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