CalPERS private equity investment fees: $1 billion
By Dale Kasler, Sacramento Bee
CalPERS on Tuesday released long-anticipated figures on how much it pays the companies that manage its private-equity investments: more than $1 billion in the latest fiscal year.
Pension fund officials said CalPERS earned a $4.1 billion profit from those investments.
The release came after the California Public Employees’ Retirement System was criticized by some in the financial community after acknowledging earlier this year that it didn’t know how much it was paying in management fees on its private equity portfolio.