Los Angeles Business Journal

CalPERS Strikes Fear into Hearts of Private Equity Firms

Wednesday, January 16, 2013

CalPERS this week announced that it made a 13.26 percent return on its investments in calendar year 2012, but its fiscal year performance was bad. Southern California Public Radio reports that a big miss on the fund’s private equity portfolio in particular means that buyout firms, which represent the biggest chunk of investments, aren't doing so well either. That could result in a pullback by the California public employees’ pension fund in that sector.