Asset Owner Directory

California Public Employees Retirement System (CalPERS)

The California Public Employees’ Retirement System (CalPERS or the System) is the nation’s largest defined benefit public pension fund. Headquartered in Sacramento, CalPERS provides retirement benefit services to nearly 2.1 million members and health benefit services to over 1.5 million covered lives for state, school, and public employers.


United States

AUM ($B)




Chief Executive

Marcie Frost

Chief Investment Officer

Dan Bienvenue


Henry Jones

Asset allocation
Asset classes are a result of a period strategic asset allocation process and approved by the CalPERS Board of Administration.CalPERS' investment portfolio is diversified into several asset classes. Strategic asset allocation is the dominant determinant of portfolio risk and return; a well-diversified portfolio shapes our long-term performance, protects the Retirement Fund, and ensures any weaknesses in one area are offset by gains in another.

36.3% Public Equity

43.8% Private Equity

-0.1% Fixed Income

2.6% Real Assets

0.1% Liquidity related articles

Leverage: Friend or foe?

Against the backdrop of rising rates, market turmoil and pension funds’ ever-growing illiquid allocations, leverage is going to increasingly come under the spotlight. Today’s changing macro picture of increasing interest rates and rising borrowing costs will put pressure on pension funds to ensure financing costs are compensated with expected returns.
Asset Owner Directory