CalPERS Would Be Forced to Divest from Private Prison Companies
The largest US pension plan would need to sell its investments in two private prison companies under legislation sponsored by California lawmaker Rob Bonta.
Newsmakers
Kentucky Supreme Court Strikes Down Pension Law
Hurried legislation tucked in a sewage bill ruled by court as unconstitutional.
Washington State Makes New Private Market Commitments
The majority of the $700 million commitment deployed as part of a network of real estate organizations controlled by the pension plan.
MetLife Sued over Pension Calculations
Insurance firm is accused of improperly reducing retiree benefits.
In Crowd of more than 300, 105 Leading Asset Owners Celebrate Nominees during CIO Innovation Awards
Celebration of an extraordinary year draws large, vibrant group of CIOs and leading investors.
Greece Nixes Pension Reductions, Seen as Too Draconian
As the European Commission approves the move, parliament calls off the trims, slated for 2019.
Canada’s Machin Staying the Course with China Despite Tension
Pension board CEO says it will stay cool-headed amid Beijing’s threats over Canadian arrest of tech heiress.
Commitments Keep on Coming at San Francisco Fund
The San Francisco system makes four more private market commitments, adding to the more than $3 billion already committed this year.
CalPERS Decision to Divest from Tobacco Is Costly
A report found CalPERS missed nearly $3.6 billion in investment opportunities from 2000 decision, but other divestments have worked in its favor.
Google Sued over Data Breach by Rhode Island
Lawsuit alleges executives at Alphabet Inc. hid vulnerability that allowed 52 million users' privacy to be compromised.
NYC Appoints Former White House Private Equity Expert as CIO
Alex Doñe will provide direct investment advice to the five New York City Retirement Systems.
Huge Investor Alliance Presses Global Acceleration of Paris Accords
The $32 trillion Investor Agenda is worried that nations are letting climate goals recede.
NYC Comptroller Crowns New Private Equity Chief for Investment Bureau
David Enriquez will handle city’s $12 billion PE portfolio, which spans its five pension systems.
Ted Eliopoulos Joining Morgan Stanley
The former CalPERS CIO will oversee six investment team leaders and bolster the investment bank’s relationships with its asset owner clients.
California Supreme Court Hears Pension Reduction Case
But the court might rule on a narrower issue, continuing the controversy over whether the benefits promised employees are fixed for life.