Tuesday, 13 October 2015
Last updated 10 hours ago
Mar 15 2007 | 11:31am ET
The California Public Employees’ Retirement System again enjoyed double-digit returns last year, and it has private equity to thank.
The largest pension fund in the U.S. earned 15.4% in 2006 before fees. Its alternative investment management program, which houses its private equity and venture capital investments, was a big part of it, returning 20.9% last year. Its benchmark rose 17.7%.
"We had a very strong fourth quarter of 2006, with an overall portfolio gain of 6% for just those three months," said Charles Valdes, chair of the $230 billion fund's investment committee.
Real estate was also a major piece of CalPERS’ winning puzzle for the year, as it rose 27.6%, compared to 17.6% for its benchmark.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…