Top officials say CalPERS will be part of two investment partnerships with general partners, but won’t own a stake in them.
Tag: CalPERS Direct
Yu Ben Meng’s start date is being held up by the Chinese government, which could delay a vote on the launch of a $20 billion direct private equity investment organization.
Preqin data shows California system could become fourth-largest PE investor.
Investments of $20 billion in two CalPERS-backed independent pension organizations would change the face of institutional investing in private markets.
Fewer IPOs mean operational efficiencies rather than leverage become more important for private equity portfolio company exits, Sonsini says.
CIO tells investment committee there aren’t enough top-tier firms to invest in to sustain growth.
Critics express fiduciary concerns.
‘CalPERS Direct’ would help largest US fund to bypass high fees.