CalPERS sees 12% return on PE investments in 2012
The California Public Employees' Retirement System (CalPERS), the biggest pension fund in the US, reported a 12.24% return on its private equity investments in 2012, compared with a sector benchmark of 28.45%.
The disappointing PE performance contributed to a lower overall return for the $252 billion pension fund to 13.26%, below a 14.43% benchmark, CIO Joseph Dear said at a meeting of the fund's board. During...
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