The
giant pension fund’s potential decision to slash its rate of return
could force California governments to struggle paying millions more each
year to provide employees with pensions.
CalPERS' Joseph Dear says emerging money managers don’t need placement agents to get hired by the fund giant; New York’s CIO Schloss takes the lead on placement agent relationships.
CIC's Jiwei, a computer scientist-turned-economist, says the
SWF will let its own in-house portfolio managers lead investments in
developed markets. SWF Temasek will launch a new wholly owned
subsidiary.