The California Public Employees Retirement System (CalPERS) styles itself as the United States’ largest public fund. In response to a letter from Governor Newsom, CalPERS has reported that it has over three quarters of a billion dollars in Russian investments, consisting of $420 million in public stocks and $345 million in illiquid real estate assets. Although these are sizable amounts, CalPERS claims that combined they represent only 0.17% of its total investment portfolio.
In response to Russia’s attack on Ukraine, CalPERS has announced the following actions: CalPERS has ceased all transactions in Russian publicly traded equity and has stopped the […]
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