CalPERS plans direct investment strategy

The US’s largest pension fund has proposed a two-pronged approach.

CalPERS, the state of California’s public-sector pension fund, has announced it is planning to set up two new direct investment funds in a bid to improve long-term returns.

Reports suggest the funds – a venture capital vehicle as well as one focusing on established companies – will be able to invest up to $13bn. However, the move has yet to be ratified by the CalPERS board.

See more from this Government Report: California (CA), US

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