CalPERS is continuing to reap the benefits of a sweeping overhaul of its public and private equity programs, with the two asset classes, which are the biggest components in the portfolio, powering a 14.8 per cent return for the $637 billion fund in the last reporting period.
CalPERS chief investment officer Stephen Gilmore said the $650 billion fund’s upcoming shift to a total portfolio approach will sharpen investment accountability and help it focus capital allocation decisions on fund-level objectives.
Three of the largest US pension funds, managing a combined $1 trillion in assets, have demanded a meeting with SpaceX executives ahead of its speculated blockbuster IPO warning that its proposed corporate plan could be “the most management-favourable governance structure ever brought to the US public markets”.
The blockage of the Strait of Hormuz has left the world facing another energy crisis and warning bells of a global recession are growing increasingly shrill. Ostensibly, the crisis could also push the energy transition back as governments and companies scramble to shoulder the cost of $100 per barrel of oil and prepare for higher
An investment banking expert has warned the CalPERS board of the risks inherent in AI, emphasising the importance of investors understanding how their exposure to AI is at risk because of Chinese competitors.
Listen to the detailed interview between Top1000funds.com editor Amanda White and CalPERS' CIO Stephen Gilmore to gain insights into how a TPA mindset has the potential, through a shared focus on the total portfolio, to add value, simplify accountability and open new opportunities for investments.
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