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…
Venture Capital Markdowns Start To Hurt Hedge Funds And Retirement Funds
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