The $225 billion retirement system is also considering starting a REIT portfolio.
The $52 billion plan wants to increase the use of ESG managers and improve monitoring.
Plan, which has invested over $1 billion since 2001, was aimed at private equity investments in underserved areas of state.
1% return for the 10-year-period is below its own custom benchmark as consultant warns of next downturn.
CIO Jerry Albright seeks to significantly lower the $1.4 billion per year the fund pays to external managers.
Despite concerns of a trade war, endowments and foundations investors stay the course.
Departure comes after scrutiny over credentials, past work experience.
Split board debates two plans, but lowered rate must also receive lawmakers’ approval.
Ted Eliopoulos: the CalPERS board has already authorized the search for investment leadership of the new organization.
How Vince Smith at New Mexico State Investment Council is Using Real Estate to Weather Late Cycle and Rising Rates
Council is reducing long bond and equity exposures in favor of income-generating assets.
Porting his Wisconsin experience, CIO Garcia plans to expand portable alpha portfolio with hedge funds.
Pushing for better gender diversity is no slam-dunk, even in the #MeToo era.
CIO Scott Evans says divestment could create a significant tracking error.
Fund will be institutional only for a year, then a share class of the fund will be listed on the NYSE and ADX.
While governance yields financial results, data still debated on sustainability and social investing. One of the world’s leaders in activist investing is getting validation that it sees better investment...