CalPERS eyes major changes to its private equity programme

According to Musicco, the years between 2009 and 2018 were a “lost decade” where the system averaged $2.7 billion in annual commitments to private equity – a low amount that cost the system between an estimated $11 billion and $18 billion in returns. CalPERS allocates 12 percent to private equity, below its … See more

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CalPERS Eyes Major Changes To Its Private Equity Programme

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privateequityinternational.com

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CalPERS Will Increase Private Markets Investments

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Private equity will increase from a target of 13% of the fund to 17% while private debt will increase from 5% to 8%. The private equity strategy has been successfully achieving its program goals …

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Private Equity Annual Program Review - CalPERS

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Private Equity Annual Program Review Agenda Item 6d, Attachment 1, Page 9 of 19 9 Portfolio Performance Internal Rates of Return at September 30, 2022 1 12.3% 11.9% 14.5%-3.9% …

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CalPERS Goes Big On Private Equity, Upping Allocation To 40%

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Mar 20, 2024 · California Public Employees' Retirement System (CalPERS), the largest public pension fund in the United States, is making a major move into private equity. On Monday, the …

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CalPERS Has $34B Bet On Private Equity, Shifts From Equities

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Mar 19, 2024 · In its latest market survey, CalPERS cut the expected 20-year return on private equity to about 7.9% due to increased financing costs while increasing expected returns for …

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CalPERS Boosts Private Equity And Private Credit Allocations, …

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Mar 19, 2024 · CalPERS made major asset allocation changes 11 months before its next asset allocation review. ... CalPERS' private equity return was 8.8% for the one year, …

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CalPERS To Add $34bn To Private Markets In ... - Alternatives Watch

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Mar 19, 2024 · The process examines CalPERS' assets and liabilities with an eye toward ensuring the portfolio is well-balanced and capable of meeting future pension costs. The next …

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CalPERS Commits $3.4bn More Than It Receives In Q3

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Nov 7, 2023 · In the second quarter of this year, CalPERS committed $2.1 billion more to its fund partners than was returned. The $452.3 billion system has embarked on major changes to its …

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CalPERS Is Supersizing Its VC Position

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Jun 26, 2023 · More co-investing. In addition to bolstering its VC program, CalPERS is boosting its co-investments. Orlich noted that the pension made $4 billion in co-investment …

venturecapitaljournal.com

FAQs about CalPERS eyes major changes to its private equity programme Coupon?

Why has CalPERS shifted from private equity to private equity?

The shift reflects confidence that CalPERS can ferret out attractive investments even as the fund significantly downgraded the expected 20-year returns from private equity in its latest market survey, citing increased financing costs. ...

Why did CalPERS cut its 20-year return on private equity?

In its latest market survey, CalPERS cut the expected 20-year return on private equity to about 7.9% due to increased financing costs while increasing expected returns for private credit to 7.2%. ...

Is CalPERS looking for a new Chief Investment Officer?

CalPERS offices in Sacramento. The pension fund is currently searching for a new chief investment officer. (Carl Costas / For The Times) The largest U.S. pension fund is ramping up its exposure to private equity and private credit in a $34-billion bet that the riskier assets will fuel higher returns. ...

Will CalPERS raise its investments into private markets in 2024?

March 19, 2024 SACRAMENTO, Calif. – Moving to seize market opportunities and maximize returns from the highest performing asset classes, the CalPERS Board of Administration approved a proposal on Monday to raise the portfolio’s investments into the private markets. CalPERS continues to progress with the private asset strategy begun in 2022. ...

How will CalPERS' private asset strategy change in 2022?

CalPERS continues to progress with the private asset strategy begun in 2022. The proposal will increase total private market allocations from 33% of plan assets to 40%. Private equity will increase from a target of 13% of the fund to 17% while private debt will increase from 5% to 8%. ...

How much is CalPERS worth?

The most recent (PDF) figures available for the fair value of the CalPERS private equity and private debt asset classes were $68.7 billion and $12.3 billion, respectively. Just last year (PDF), values for private equity and private debt stood at $63.5 billion and $10.9 billion, respectively. ...