Venture Capital Markdowns Start To Hurt Hedge Funds And Retirement Funds

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Rupert Hargreaves
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With interest rates pinned to the ground, and returns from public equity markets looking uncertain, the California Public Employees’ Retirement System came up with a plan last year to boost returns in order to meet its growing obligations to retirees. Towards the end of 2021, the $495 billion retirement fund announced that it would be changing its strategic asset class allocation, to deploy more money into private equity and deploy a small amount of leverage in the portfolio to juice returns. Q2 2022 hedge fund letters, conferences and more CalPERS announced that it would increase its private equity portfolio from…

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Sign up now and get our in-depth FREE e-books on famous investors like Klarman, Dalio, Schloss, Munger Rupert is a committed value investor and regularly writes and invests following the principles set out by Benjamin Graham. He is the editor and co-owner of Hidden Value Stocks, a quarterly investment newsletter aimed at institutional investors. Rupert owns shares in Berkshire Hathaway. Rupert holds qualifications from the Chartered Institute For Securities & Investment and the CFA Society of the UK. Rupert covers everything value investing for ValueWalk