CalPERS Tries To Think Outside The Box… With Private Equity

The investment committee for the California Public Employees’ Retirement System was told to think “out of the box” to figure out how to beat their projected 7% return, and only a day later, the nation’s largest pension fund revealed a plan to wade deeper into private investments. It seems like CalPERS is moving rather quickly for a pension fund that’s been battling unfunded liabilities and a feud among board members while preparing for the departure of its chief investment officer. Seeking a way to beat the 7% return projection League of California Cities representative Dane Hutchings told the CalPERS investment…