CalPERS Loses 2.3% On Hedge Funds, Gains 12.4% On Private Equity

Jan 26 2012 | 1:19am ET

The California Public Employees’ Retirement System managed to make money last year—no thanks to its hedge fund investments.

The nation’s largest public pension fund lost 2.29% on hedge funds, Joseph Dear, chief investment officer, told the CalPERS board. Despite the loss, CalPERS managed a 1.1% return for 2011, a year that saw the Standard & Poor’s 500 Index finish flat.

What positive return there was can be attributed to CalPERS’ other alternative investments. Its private equity portfolio was up 12.37% through the third quarter, and its real-estate portfolio returned 9.92%.


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Malik: The Ever-Changing Middle Market and The Entering Class of 2016

Sep 2 2016 | 5:01pm ET

Deal sourcing and origination is only going to get more competitive given current...