CalPERS Seeks to Emulate the Reference Portfolio Concept

The California Public Employees’ Retirement System (CalPERS) is moving toward the reference portfolio model, emulating the likes of the Ontario Teachers’ Pension Plan (OTPP), Canadian Pension Plan Investment Board (CPPIB), GIC Private Limited and the New Zealand Superannuation Fund.


Mega pension CalPERS has slowly reduced exposure to private equity over the past months. In April, CalPERS managing director of private equity, Réal Desrochers, exited the pension giant to pursue other opportunities. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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