Greg Ruiz, who has family ties to the fund, will take over from interim Sarah Corr.
Says actions from Climate Action 100+ initiative are starting to bear fruit.
New CIO Ben Meng says system can’t access ‘private equity exposure on the scale that we need.’
The pension plan’s stance also means it won’t likely voluntarily divest from GEO Group and CoreCivic.
The largest US pension plan aims to break new ground with a program to expand its private equity asset class.
Investment committee members may vote on the plan in two weeks.
Institutional group wants the top 20 public power companies to make good on Paris Agreement goals.
Plan is essential if CalPERS wants to avoid increasing its approximate $140 billion unfunded liability, Meng says.
Poor equity performance is the biggest risk for the largest US pension plan, review shows.
Canadian pension plan is aiming for a more global venture capital program.