Asset Allocation
Proposed Bill Would Require CalPERS, CalSTRS to Divest Fossil Fuels
The pension giants would have to sell off more than $9 billion combined in assets by 2027.
Tag: California Public Employees’ Retirement System
Manager Selection
CalPERS Appoints Nicole Musicco as Chief Investment Officer
Her background includes private investment firm RedBird Capital Partners and the Ontario Teachers’ Pension Plan.
Manager Selection
CalPERS Seeks Private Equity Investment Director
The pension giant is looking for candidates to oversee its co-investment program.
Newsmakers
Pressure Mounts on CalPERS to Ditch Fossil Fuels
One public commentator accused the pension fund of investing in ‘merchants of death.’
Risk
CalPERS Board Votes to Increase Portfolio Leverage, Maintain 6.8% Discount Rate
The move is indicative of increasing risk-taking among pension funds across the country.
Corporate Moves
Simiso Nzima Named Head of CalPERS’ $250 Billion Global Equity Portfolio
The pension giant’s global equity program accounts for more than half of its entire asset value.
Vocal Critic Margaret Brown Is Knocked Off CalPERS Board
Things should be more peaceful once the 'watchdog' leaves, this coming January, but whether CalPERS will be better or worse remains to be seen.
Alternatives
CalPERS’ In-House Private Debt Program Is Dead
A California legislative committee killed a bill that would have allowed the pension system to hand out loans without full public disclosures about the borrower.
Asset Allocation
CalPERS Reports Preliminary Return of 21.3% for 2020-21
The strong performance triggers a reduction in the assumed rate of return to 6.8%.
Corporate Moves
CalPERS Appoints Marlene Timberlake D’Adamo First DEI Officer
The former chief compliance officer at the $466 billion pension fund is moving into the newly permanent position.
Pensions
CalPERS Sues Former Employee for Allegedly Stealing Pension Money
More than $685,000 was stolen from 10 retirees, including a homeless person and beneficiaries under legal conservatorships, the fund said in its lawsuit.
Pensions
CalPERS Suspends Search for New CIO
Pension system officials say they won’t restart the search until early July, and they didn’t offer a timetable as to when a new person will take the job.
Asset Management Culture
World’s Top Carbon Offenders Need to Step Up, Says Investor Group
Investors managing more than $54 trillion says firms require clear short- and medium-term targets and related capital expenditures.
Asset Management Culture
Controversy Still Follows CalPERS’ CIO Resignation
More than a half-year after Ben Meng resigned, a lawsuit and pending pension system policy decisions are bringing his departure back into the limelight.
Newsmakers
State Employee Retirements at CalPERS Jump 15% in 2020
The pension system says the spike was ‘predicted’ and figured into planning for the $389 billion fund.