California Public Employees' Retirement System related stories
All articles and analysis
CalPERS, CalSTRS unveil heavy losses in alternativesThe two powerful California pensions have announced huge write-downs in private equity and real estate over the fiscal year ending in March. Both pensions have implemented measures to counter the losses, including moving allocations and negotiating for lower fees.
- SECONDARIES I
With valuations proving a point of contention between would-be vendors and acquirers, sales of private equity portfolios to secondary buyers have been relatively subdued in recent months. But the need to free up capital means action will have to be taken sooner rather than later - and that's why secondaries specialists believe a highly productive period lies ahead. Andy Thomson reports.
- ASSET CLASS
The denominator effect is impacting limited partner portfolios and slowing the private equity fundraising market. Matt Levin asks whether it will result in changes to the LP-GP relationship.
- Time to get pushy
Two limited partner associations are beefing up their activities in response to the downturn. Kevin Ley reports
- CalPERS considers 4% private equity boost
Investment staff will recommend the US pension giant increase its target allocation to private equity to 14%. It currently has 11.7% of its assets, or $21bn, invested in the asset class.
- CalPERS board approves 14% PE allocation
The $183bn public pension said the move is designed to bring flexibility and higher liquidity to the portfolio.
- CalPERS drafts disclosure policy for placement agents
The largest pension in the US has charged its staff with creating a disclosure policy for placement agents and their fees after it was revealed that CalPERS has ties to a kick-back scandal involving the New York State Common Retirement Fund.
- LACERS, New Mexico draft placement fee disclosure policies
As a kick-back scandal involving several public pensions grows in the US, LACERS is the latest pension to draft a disclosure policy for placement agents and other third-party marketers.
- Softbank China raises $315m
SBCVC III’s investors include Starling, Montagu Newhall, Princess and CalPERS.
- CalPERS moves closer to selecting private equity consultant
The $165bn pension, the largest in the US, has narrowed its candidate list for private equity consultant to four – Aldus Equity, Ennis Knupp, Brock Capital and Pension Consulting Alliance. The pension’s staff will choose two of the four firms to move into the final phase of the selection process.