Exclusive: CalPERS’s Dear Defends Emerging Managers Programs

Trying to counter claims aired at a recent state Senate hearing that the $243 billion California Public Employees’ Retirement System was reducing its long-time commitment to emerging managers, Joe Dear, the system’s chief investment officer, has written a forceful letter to the hearing’s chairman, Sen. Curren Price Jr., saying that he was “troubled by testimony that questioned our commitment and intentions” on emerging managers.

ManagersEmerging Managers