California Public Employees Retirement System

Overview

The California Public Employees Retirement System (CalPERS) is the largest public pension fund in the United States, managing assets exceeding $500 billion. Established in 1932, CalPERS provides retirement and health benefits to more than 2 million public employees, retirees, and their families in California. The fund's investment portfolio is diversified across various asset classes, including private equity, public equity, fixed income, private debt, and real assets, with a strategic focus on both domestic and international markets. CalPERS is recognized for its commitment to sustainable and responsible investing, integrating environmental, social, and governance (ESG) factors into its investment decisions. The fund actively engages with portfolio companies to promote long-term value creation and has been a leader in shareholder activism, advocating for corporate governance reforms and climate change mitigation strategies. CalPERS' investment decisions are guided by a Board of Administration, which sets policies and oversees the fund's operations, ensuring alignment with the best interests of its beneficiaries and the financial health of the system. The fund's headquarters are located in Sacramento, California, and it operates under the California Government Operations Agency.

Investment Focus

• Investments must align with CalPERS' strategic asset allocation policy
• Focus on long-term value creation
• Adherence to ESG principles
• Diversification across asset classes and geographies
• Compliance with fiduciary responsibilities
• Engagement in shareholder activism for corporate governance reforms
• Support for climate change mitigation strategies
• Alignment with the financial health and sustainability of the fund
• Transparency and accountability in investment decisions
• Collaboration with external investment managers and consultants
• Regular monitoring and evaluation of investment performance
• Adherence to legal and regulatory requirements
• Commitment to ethical investment practices
• Support for initiatives promoting diversity and inclusion
• Alignment with the mission to provide retirement and health benefits to members