CalPERS' private equity programme gains 16.3%

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US - The US$200bn California Public Employees' Retirement System's (CalPERS) private equity "Initiative Program" posted strong annual gains of 16.3% in its fourth year since inception.

CalPERS committed $475m to the initiative in November 2001, according to investment committee chair Charles Valdes. This private equity programme is still relatively young, so we anticipate even...

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