Newsmakers
CalPERS Names Stephen Gilmore as New CIO
The new investment chief is CIO of the Guardians of New Zealand Superannuation and is expected to start in July.
Tag: CalPERS
Pensions
CalPERS Approves New Private Assets Allocation in Private Equity Push
The pension fund will increase private market assets to 40% of its portfolio, up from 33%, reducing equities and fixed income.
Market Moves
Why Allocators Do Badly When Selling Stocks
Placing too much emphasis on buying assets results in leaving money on the table once they divest, says strategist Ervolini.
Pensions
CalPERS Prepares for 2nd Round of CIO Interviews
With the CIO position vacant since September 2023, a second set of interviews will be held on February 28.
Regulation
Allocators Condemn UK Regulator’s Plan to Limit Investor Approvals
As it stands, shareholders must assent to M&A or related-party deals. But the FCA wants to ease listing requirements to stem companies decamping to New York exchanges.
Manager Selection
CalPERS Expects to Hold 1st Interviews for Vacant CIO Position Next Week
The selection subcommittee will meet between January 17 and 19.
Manager Selection
CalPERS Interim CIO Dan Bienvenue Joins CAIA Board
Bienvenue’s 3-year term began January 1.
Manager Selection
Texas Municipal Retirement System Hires New CIO From CalPERS
Yup Kim, CalPERS’ investment director of private equity, will join TMRS on January 15.
Asset Allocation
CalPERS Pledges to Boost Low-Carbon Assets to $100B
The $462 billion pension giant will more than double those assets as it aims to halve the carbon-emissions intensity of its investments by 2030.
Pensions
CalPERS Selects Executive Search Firm to Identify New CIO
The system needs to replace CIO Nicole Musicco and hire a fourth lead investor in five years.
Asset Allocation
CalPERS’ Private Equity Allocation Remains Nearly $7B Under Target in Q3
The New York State Common Retirement Fund recorded the largest overallocation among global pension funds at $11.7 billion.
Corporate Moves
CalPERS CIO Nicole Musicco Will Step Down
Musicco cites family needs as the reason for her departure; the fund’s deputy CIO will serve as interim head.
Market Drilldown
Emerging Market Debt Appears Poised for a Revival
The big yield advantage they enjoyed over developed countries’ debt issues has narrowed, but EM paper retains other pluses.
Asset Allocation
CalPERS Reports Preliminary 5.8% Return for Fiscal 2023
Public equities and private debt were the top performers for the fund’s $462.8 billion portfolio.
Market Drilldown
What Could Derail Private Credit’s Momentum?
The popular investment may suffer from an economic dip and other changes in the financial scene, critics warn.