The California Public Employees’ Retirement System (CalPERS) heard proposals to adjust its private equity portfolio allocations as part of a new investment structure at yesterday’s investment committee meeting.
The investment board of the $355 billion US public pension discussed plans to increase its overall private equity allocation to 10 percent, which would entail an additional $10 billion to $13 billion in commitments. Additionally, the board discussed a staff proposal to increase the allocation to buyout strategies in the pension’s PE portfolio from 60 percent to 65 percent, correspondingly decreasing its allocation to credit-oriented strategies to 20 percent from 25 percent.
CalPERS currently has an 8 percent allocation to private equity. Platinum subscribers may click here for the pension’s full profile, including key contacts, allocation strategy and fund investments.