Calpers to expand private-equity, VC investments

Reuters – The California Public Employees’ Retirement System (Calpers), which manages $169 billion in public pension funds, may boost its private-equity investments by around 40 percent as slumping markets create some acquisition bargains.

Calpers’ board next week is scheduled to vote on a plan that would increase the fund’s target for corporate buyout and venture-capital investments to 14 percent from 10 percent.

Spokesman Clark McKinley said the fund’s $22.8 billion of such investments has jumped to 13 percent as the sinking value of stocks and other assets reduced the size of the overall fund.

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