CalPERS to increase target allocation to private equity

by Helen Kenyon

  • 18 Jun 2009
  • PE

California Public Employees' Retirement System(CalPERS) has voted to increase its private equity allocation from 10% to 14% of total assets. At the same time, the public pension fund opted to reduce its acceptable allocation range for investments from +/-8% to +/-5%. This reflects CalPERS's view that the markets are now less volatile than they were when the range of +/-8% was agreed in Q1 2009. Its current allocation to private equity is 11.3% of assets which means it is now below its target allocation and is no longer overallocated to the asset class.

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