A decade ago, the largest US pension plan decided to abandon its home country bias favoring US stocks. Now, pension officials wonder if it was the right move as US stock performance has shined.
Board approves 4% raise, $84,873 bonus, but controversy continues over Frost’s educational credentials.
Ben Meng’s predecessors did not have deep investment roots, instead administrative and political experience were their calling.
Start date has not yet been determined.
Consultant Wilshire Associates also gives overall CalPERS leadership a C grade.
Deal with Ben Meng is not done, however, as negotiations continue on total compensation.
Plan launches second initiative aimed to increase independent board members at Japanese companies.
Representatives of pension plans and asset managers describe effort to Invest in ESG strategies at annual Principles of Responsible Investing conference.
The program, however, represents just a little more than 1% of CalPERS’s AUM.
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.
The pension lost around $500 million as it sold most of its portfolio.
Ted Eliopoulos wants to know whether the largest US pension system is being rewarded enough for its investment risk taking.
Fewer IPOs mean operational efficiencies rather than leverage become more important for private equity portfolio company exits, Sonsini says.