The $323bn California Public Employees’ Retirement System (CalPERS) is exploring making direct investments in private equity, and is considering a wide range of options as it reviews its long-term strategy for the asset class.

At an offsite meeting in Monterey, California, CalPERS staff discussed options on a continuum from low-risk, high-cost, and relatively simple investments, such as investing in funds of funds, to higher-risk, more complex investments, including direct investment through CalPERS staff. CalPERS noted that direct investments would require very high reliance on expensive internal talent.

Read the full article: CalPERS weighs direct investments in private equity

Published by Money Management Report/Pageant Media.