California Public Employees' Retirement System related stories
All articles and analysis
CalPERS’ president supports stricter rules on placement agentsTreating placement agents as lobbyists under California law would impose the proper limitations on the practice, CalPERS’ president Rob Feckner wrote in a letter to the pension’s board.
- CalPERS wants placement agents to earn flat fees
Industry participants are raising red flags over the pension giant's decision to sponsor legislation that would require placement agents to register as lobbyists and ban success fees.
- CalPERS sees 7.4% rebound in private equity in Q3
Joseph Dear, CalPERS chief investment officer, said private equity investments will ‘fuel our portfolio in future years’.
- CalPERS commits $120m to SAIF IV
The commitment comes as the $200bn pension is reviewing its private equity programme, including analysing fees paid by its fund managers to placement agents.
- Markstone replaces Broidy with Israeli ambassador
Markstone does not expect the criminal case against its former chairman Elliott Broidy to have an effect on the ‘value of investors’ interests in the partnership’.
- OMERS chief: infrastructure is ‘almost perfect’ asset class
Michael Nobrega also said at a speech in New York that the 2-and-20 compensation model no longer works and active infrastructure investing is the wave of the future. He urged pensions to make allocations to the asset class and to make them large enough to invest in big-ticket assets.
- Oaktree lags other managers on PPIP fundraise
Marathon Asset Management recently held a first close reportedly on $400m for PPIP, leaving Oaktree as the last firm to reach the benchmark.
- Development finance LPs back ILPA guidelines
CDC and Norfund are among a group of LPs that want to ensure ‘the next generation of emerging market private equity funds are raised on terms that reflect the principles’.
- Panel: CalPERS board member broke campaign law
Charles Valdes, a CalPERS board member, received illegal campaign donations, some from affiliates of Alfred Villalobos, head of placement agency ARVCO.
- Apollo unveils growing ‘separate account’ business
South Carolina Retirement System has committed $750m in a ‘strategic partnership’ that will invest alongside and through Apollo funds - a new trend, according to the firm.