CalPERS awards contracts to two investment consultants

The Sacramento pension has approved contracts for general and private equity investment consultants.

Institution: California Public Employees’ Retirement System
Headquarters: Sacramento, California
AUM: $387.81bn
Allocation to alternatives: 19.97%
Bitesize: $200-500m

California Public Employees’ Retirement System agreed to a general investment consultant contract with Wilshire Associates, Inc., as well as a private equity investment consultant contract with Meketa Investment Group. Both institutions have had long affiliations with CalPERS; Wilshire has provided consulting services to the pension for 30 years, and Meketa for over 10 years.

CalPERS anticipates that both contracts will have three-year terms, with each containing two one-year extension options. The current agreements both expire on 30 June 2020.

As illustrated in the charts below, the $387.81 billion US public pension devotes 19.97 percent of its investment portfolio to alternative assets. Mr. Yu (Ben) Meng is the current Chief Investment Officer.

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