Moving to seize market opportunities and maximize returns from the highest performing asset classes, the CalPERS Board of Administration approved a proposal on Monday to raise the portfolio’s investments into the private markets.
CalPERS continues to progress with the private asset strategy begun in 2022. The proposal will increase total private market allocations from 33% of plan assets to 40%. Private equity will increase from a target of 13% of the fund to 17% while private debt will increase from 5% to 8%. The private equity strategy has been successfully achieving its program goals for co-investment and investments in diverse managers while moving away from large buyout.
More details can be found in our news release.