SWFI First Read, November 25, 2015
CalPERS Calms Financial Media Down, Releases Private Equity Data Results
The California Public Employees’ Retirement System (CalPERS) released private equity performance fee data to the public. Over the last 25 years, CalPERS paid about US$ 3.4 billion in performance fees to private equity managers. However, since the private equity program’s inception in 1990, CalPERS had net gains of US$ 24.2 billion, according to the data. Total private equity earnings which include the original value of investments is US$ 53.5 billion.
In a press release, CalPERS stated, “Over the 2014-15 Fiscal Year alone, CalPERS realized $4.1 billion in private equity net gains while its external investment partners realized $700 million from profit sharing agreements, according to PEARS data.”
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