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CalPERS releases report on investments and their benefits

Posted 8 years 257 days ago ago by   

SACRAMENTO, CA – The California Public Employees’ Retirement System (CalPERS) today released its annual CalPERS for California Report, detailing the broad ancillary benefits the System’s investments generated in California for the 2013-14 Fiscal Year. Additionally, CalPERS released an updated version of the California Initiative Report, highlighting a program that encourages investments in companies located in traditionally underserved California markets.

Ancillary benefits of CalPERS investments described in these reports include the creation and support of jobs, infrastructure for communities and commerce, and business expansion and related economic activity.

"These reports illustrate CalPERS' continuing commitment to invest in California," said Henry Jones, CalPERS Investment Committee Chair. "Our members dedicate their careers to public service so it's appropriate that we invest in their communities."

Key findings in the CalPERS for California 2014 Report include:

  • Investments in California for the 2013-14 Fiscal Year totaled $25.7 billion, representing an increase of 23.5 percent from the 2012-13 Fiscal Year.

  • Investments in California represent 8.5 percent of the Total Fund.

  • More than 320,000 jobs are supported as a result of CalPERS' private asset class investments in California.

  • CalPERS dollars were invested across asset classes, including public equity, fixed income, private equity, real estate and infrastructure.

"It's great to be able to look to our own back yard for investment opportunities," said Ted Eliopoulos, CalPERS Chief Investment Officer. "California companies and investment opportunities continue to be an important part of the Fund."

Since the inception of the California Initiative in 2001, which used exclusively private equity funds, CalPERS has invested a total of more than $1 billion in 531 companies located primarily in California. These companies have provided California communities with quality jobs, and benefit levels for health care and retirement that outpace statewide and national levels.

The California Initiative has invested in areas of the state that have historically not received institutional equity capital, with 44 percent of capital allocated to companies located in underserved markets.

For more than eight decades, CalPERS has built retirement and health security for state, school, and public agency members who invest their lifework in public service. Our pension fund serves more than 1.7 million members in the CalPERS retirement system and administers benefits for 1.4 million members and their families in our health program. CalPERS' total fund market value currently stands at approximately $300 billion. For more information, visit www.calpers.ca.gov.