Eliopoulos: Without Direct Investment Model, CalPERS’s Private Equity Class Will Shrink
CIO tells investment committee there aren’t enough top-tier firms to invest in to sustain growth.
CIO tells investment committee there aren’t enough top-tier firms to invest in to sustain growth.
Board approves nearly $300 million in private equity, multi-strategy investments.
System has approved nearly $1.8 billion in investments since September.
Ranadivé tells CalPERS to look for opportunities ‘outside of comfort zone.’
Fixed-income allocation increases to 28% in new portfolio.
Allocation strategies changes could double investments in fixed-income or add significant risk to the overall investment strategy.
BlackRock and Rhumbline Advisers were among the finalists considered.
LACERS lowers investment guidance to 7.25% from 7.5%.
Reduction to be phased in over five years.
Proposed changes would reduce benefits and require more contributions.
Former infrastructure consultant, real estate consultant named as potential immediate replacements.
New rate suggested by Milliman based on study.