CalPERS lowers investment risk, trims PE allocation
California Public Employees’ Retirement System (CalPERS), the largest public pension fund in the US with more than $277 billion in assets, will reduce its target allocation for private equity from 14% to 12%. The move is part of a broader effort to lower investment risk.
The changes reflect new demographic assumptions - specifically that public employees are living longer - and are designed to ensure the system's long-term sustainability. However, CalPERS said in a statement...
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