CalPERS Achieves Near-Term PE Gains
The California Public Employees’ Retirement System (CalPERS), managing $613bn in assets, is showing near-term outperformance in private equity following a shift toward heavier investments in venture and growth strategies, as well as co-investment and secondaries, according to Buyouts Insider. This performance boost was highlighted in an article dated March 17, 2026.
Strategy Shifts at CalPERS
CalPERS has placed greater emphasis on venture and growth equity as part of its private equity approach. The pension giant is also focusing more on co-investment and secondaries, which are strategies that involve partnering directly with managers or buying existing assets, according to the same source.
Performance Outcomes in Private Equity
This strategic pivot has led to a near-term performance boost for CalPERS in its private equity portfolio. As widely known in the investment world, large pension funds like CalPERS often adjust allocations to adapt to market conditions, and this case illustrates such a response through its emphasis on these specific PE areas, according to Buyouts Insider.
Context of CalPERS’ Role
CalPERS, as one of the largest public pension funds in the US, manages a vast portfolio that includes private equity, and its moves can signal broader trends, though details here are specific to its recent strategy changes.
