PIOnline: CalPERS leaning into private markets despite looming write-downs

CalPERS is focusing on private markets despite expecting valuations to decline further, particularly emphasizing infrastructure investments.

The pension fund is reducing private equity valuations but increasing co-investments to cut fees and improve returns.

CalPERS is cautiously expanding its venture capital portfolio, anticipating write-downs in the near future.

https://www.pionline.com/pension-funds/calpers-leaning-private-markets-despite-looming-write-downs