Issues Update
The Other Side to Today’s CalPERS Wall Street Journal Story on Private Equity
December 9, 2009
The Wall Street Journal today chided CalPERS reporting a disparity between its fixed income performance versus industry peers and the performance of its Alternative Investment Management (AIM) – or private equity portfolio – versus its industry peers. While our fixed income team deserves a well-deserved nod for excellent performance, here are some important facts to know about our private equity investments:
- CalPERS AIM program has outperformed its internal benchmarks for the 3, 5 and 10 year period that are established to meet the pension fund’s long-term benefit obligations.
- Since inception of the program in 1990 the AIM portfolio has generated $14.4 billion in profits for CalPERS.
- The AIM performance cited in the Journal report lags a quarter and recent significant write-ups in the value of investments are expected to increase performance in the coming months.
Back to Investments Issues Updates »
» More