CalPERS To Increase Private Equity Exposure

Nov 26 2007 | 8:54am ET

The board of the nation’s largest pension fund is meeting on Dec. 17 to set target percentages for the next three years concerning the direction of its hedge fund and private equity allocations.

Clark McKinley, a spokesman for the California Public Employees' Retirement System, said it is likely that the board will increase the fund’s private equity allocation target from the current 6% of total assets ($251 billion) to as much as 9%.

“Non-U.S. private equity share is one-third of the portfolio, and that may increase, especially for Asia,” he said.

McKinley did not specify the board’s direction toward hedge funds, only stating that, “hedge fund allocations already have been increased to up to 8% of the total global equity asset class allocation. That would be more than $12 billion, about double what we have in hedge funds presently.”


In Depth

The Benefits Of Private Debt Investing

May 7 2015 | 10:43am ET

Jeffrey Haas is chief operating officer of Old Hill Partners Inc., an SEC-registered...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

How To Generate 6% Yield In A Volatile World

May 22 2015 | 6:41am ET

Private credit comes in many different flavors, all with the common themes of over...

 

Editor's Note