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penews.com September 02, 2020

U.S. Pension System Ramps Up Co-Investing

Fallout from the coronavirus pandemic failed to slow a push into private equity co-investments by one of California's largest public pension plans during this year's first half. The $253.6B California State Teachers' Retirement System ramped up commitments to both co-investing alongside fund general partners and to opportunistic debt funds.
Read by 76% of LPs

insurancejournal.com August 25, 2020

Hedge Fund Collects $3B In Bet On Wildfire Insurance Claims

Baupost Group, the hedge fund run by Seth Klarman, received more than $3 billion in July from its bet on insurance claims against PG&E Corp. connected to a series of deadly California wildfires.
Read by 78% of LPs

marketwatch.com August 06, 2020

CalPERS Investment Chief Abruptly Resigns

California Public Employees' Retirement System Investment Chief Ben Meng has resigned after about a year and a half in the position at the nation's largest pension fund, according to the fund. It marks an abrupt exit for the investment chief, who set out to implement a reform agenda at the giant pension.
Read by 49% of LPs

May 29, 2020

City Of San Jose Leveraging Its Proximity To Silicon Valley | CIO Prabhu Palani | Q&A

Prabhu Palani is the CIO of the City of San Jose's Retirement System, one of the 10 largest cities in the U.S., where he manages a $6 billion multi-asset class portfolio for two distinct plans. In this interview, he discusses his successful experiences working with some of the largest institutional buy-side firms, why the City of San Jose takes on an endowment-like approach with exposure to private asset classes, and how he plans on leveraging the proximity to Silicon Valley to generate healthy returns.
Read by 54% of LPs

markets.businessinsider.com May 22, 2020

Investor Bill Ackman Pitched To Move Tesla's HQ To Howard Hughes Community

The hedge-fund boss asked Musk to consider three of Howard Hughes' communities for Tesla's new base. Musk threatened to move Tesla out of California this month after officials ordered him not to reopen the electric-car maker's factory due to local lockdown measures.
Read by 38% of LPs

reuters.com February 12, 2020

U.S. Lawmaker Calls For Ouster Of CalPERS CIO Over China Ties

A U.S. Republican lawmaker urged California to fire the chief investment officer of its public pension fund, the nation's largest, citing what he called the CIO's "long and cozy" relationship with Beijing, and assailed the fund's investments in Chinese companies.
Read by 77% of LPs

swfinstitute.org November 15, 2019

CalPERS To Decide On Fate Of Current Investment Consultant Contracts

The investment committee of CalPERS plans to make a decision on whether to retain Wilshire Associates as its general investment consultant and Meketa Investment Group as its private equity consultant, real estate consultant, and infrastructure consultant.
Read by 58% of LPs

nytimes.com November 06, 2019

Why $4.5B From Big Tech Won't End California Housing Crisis

Efforts by Apple, Facebook and Google to address the California housing crunch must contend with the forces that created it.
Read by 34% of LPs

realassets.ipe.com September 02, 2019

CalSTRS To Bump Up Real Estate Allocation By 2%

The changes will help improve diversification, enhance portfolio down-side protection and take advantage of the risk-return profile of private assets as outlined in the investor's "collaborative model" initiative.
Read by 53% of LPs

sacbee.com July 23, 2019

CalSTRS Pension Fund Falls Short Of Investment Return Target

"It was a roller coaster year and a very challenging environment in which to generate returns," said CalSTRS CIO Christopher Ailman. "Thanks to the in-house expertise of our investment team, we were able to come very close to our assumed rate of return despite the instability of the market."
Read by 45% of LPs