Manager Selection
CalPERS Appoints Nicole Musicco as Chief Investment Officer
Her background includes private investment firm RedBird Capital Partners and the Ontario Teachers’ Pension Plan.
Tag: Ben Meng
Alternatives
CalPERS’ In-House Private Debt Program Is Dead
A California legislative committee killed a bill that would have allowed the pension system to hand out loans without full public disclosures about the borrower.
Asset Allocation
CalPERS Reports Preliminary Return of 21.3% for 2020-21
The strong performance triggers a reduction in the assumed rate of return to 6.8%.
Pensions
CalPERS Suspends Search for New CIO
Pension system officials say they won’t restart the search until early July, and they didn’t offer a timetable as to when a new person will take the job.
Asset Management Culture
Controversy Still Follows CalPERS’ CIO Resignation
More than a half-year after Ben Meng resigned, a lawsuit and pending pension system policy decisions are bringing his departure back into the limelight.
Asset Management Culture
New CalPERS CIO Could See $2.4 Million Payout
That compensation is tied to five-year goals as part of an effort to reduce turnover at the largest public pension in the US.
Asset Management Culture
New Investment Restrictions Coming for CalPERS CIO
The resignation of CalPERS CIO Ben Meng on ethics charges revolving around his investments spurred board to review new restrictions.
Asset Management Culture
California Opens Investigation into Former CalPERS CIO Meng
He could face penalties of $5,000 per violation if he is found to have breached ethics regulations.
Newsmakers
CalPERS CIO Ben Meng’s Departure Linked to Questions on His Financial Disclosure
At issue: allegations of unreported stock transactions and also his holdings in three private equity firms the plan invested in, including Blackstone and Carlyle.
Newsmakers
CalPERS CIO Ben Meng Resigns from Nation’s Largest Pension Fund
Deputy chief Dan Bienvenue will take over until the retirement system finds a replacement.
Asset Management Culture
Indiana Congressman Calls on CalPERS CIO To Be Fired
Ben Meng is too close to the Beijing regime, says lawmaker Jim Banks, joining earlier attack from Secretary of State Mike Pompeo.
Asset Allocation
CalPERS CIO: No Divestment of Fossil Fuel Companies
Addressing climate change advocates directly, Ben Meng says divestment is not the fiscally sound path.
Manager Selection
Exclusive: CalPERS Fires Most of Its Equity Managers
Allocations for both traditional and emerging equity managers were slashed from $33.6 billion to $5.5 billion, and only four of 22 managers have been spared.
CalPERS Continues to Talk with Private Equity Teams
The pension plan is still intent on building its own private equity organization.
Risk
CalPERS Just Misses Investment Target
CalPERS investment returns of 6.7%, below its 7% target, will likely be part of the discussion this week at retreat meeting.