With interest rates pinned to the ground, and returns from public equity markets looking uncertain, the California Public Employees’ Retirement System came up with a plan last year to boost returns in order to meet its growing obligations to retirees.
Towards the end of 2021, the $495 billion retirement fund announced that it would be changing its strategic asset class allocation, to deploy more money into private equity and deploy a small amount of leverage in the portfolio to juice returns.
Q2 2022 hedge fund letters, conferences and more
CalPERS announced that it would increase its private equity portfolio from 8% to 13% of total assets and sell some Treasury bonds...
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