Calpers headquarters is seen in Sacramento, California. Reuters/Max Whittaker
AUM: $356 bln
Target allocation to PE/VC: 8 pct
Actual allocation to PE/VC: 7.7 pct
PE strategy: CalPERS has a target allocation of 8 percent to private equity. Of that, the pension is about to approve an adjustment to the percentage share to 'buyouts,' from 60 to 65 percent of its private equity portfolio.
Why this is important: This revision to the CalPERS's private equity investment policy will free up an estimated additional $1.25 billion for investments in buyouts.
Investment staff at California Public Employees’ Retirement System have proposed to notch up their target suballocation to buyouts, and to ease limitations on choosing buyout and other kinds of private equity funds. The proposal has been overshadowed by a recent ...