Investments in Golden State in 2015 rise to $27.8 Billion
SACRAMENTO, CA – The California Public Employees’ Retirement System (CalPERS) today released its annual CalPERS for California (PDF) report, detailing the broad ancillary benefits the System’s investments generated in California for the 2014-15 Fiscal Year. Additionally, CalPERS released an updated version of the CalPERS California Initiative (PDF) 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.
“CalPERS’ investment in California is a reflection of the diversity of the state’s economy,” said Henry Jones, CalPERS Investment Committee Chair. “There are various long-term investment opportunities here which contribute to the overall health of the Fund.”
Key findings in the CalPERS for California 2015 report include:
- Investments in California for the 2014-15 Fiscal Year totaled $27.8 billion, an increase of 8.2 percent from the 2014-15 Fiscal Year.
- Investments in California represent 9.2 percent of the Total Fund.
- More than 362,000 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.
“We are always pleased when investment opportunities arise in California,” said Ted Eliopoulos, CalPERS Chief Investment Officer. “We invest globally, but CalPERS is proud of our positive impact on California’s economy.”
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 538 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 35 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 1.8 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 $294 billion. For more information, visit www.calpers.ca.gov.
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