California Public Employees’ Retirement System

California Public Employees’ Retirement System (CalPERS) is a large public pension fund that manages retirement and health benefits for public employees in California. It allocates capital across a broad set of asset classes including public equities, private equity, venture investments, real assets and fixed income. As a long-term institutional investor, CalPERS focuses on generating retirement income for beneficiaries, implementing governance and risk management practices, and pursuing diversified allocations to meet long-term liabilities.