CalPERS

Overview

The California Public Employees' Retirement System is the largest public pension fund in the United States and one of the most influential private-equity limited partners in the world. Its allocation decisions and pacing plans are widely watched across the industry.

Key facts

• Largest public pension fund in the U.S.
• Runs a large, long-established private-equity program
• Uses co-investments to lower blended fees
• Based in Sacramento, California