CalPERS

Investment Committee Agenda

This committee reviews investment transactions, the investment performance of both internal and external managers, and establishes investment policy and strategy.

(Agenda items are provided in a PDF format, which require Adobe Reader 8 or higher to view.)

Meeting Agenda for December 15, 2014

9:30 a.m. - Closed Session

Or Upon Adjournment or Recess of Board Closed Session, Whichever is Later

Chief Investment Officer's Briefing on Market and Personnel Issues
(Government Code sections 11126(a)(1) and 11126(c)(16))

Investment Committee Closed Session with Consultants – Investment Strategies
(Government Code section 11126(c)(16))

10:00 a.m. - Open Session

Or Upon Adjournment or Recess of Closed Session, Whichever is Later

Closed Session

Upon Adjournment or Recess of Open Session
(Government Code section 11126(c)(16) and 11126(e))

Open Session

  1. Agenda Items
    1. Call to Order and Roll Call
    2. Executive Report - Chief Investment Officer Briefing (This item will be presented verbally at the meeting.) Ted Eliopoulos
    3. Consent Items
      Action Consent Items:Ted Eliopoulos
      1. Approval of the Meeting Minutes
      2. Report to the California Legislature – Iran and Sudan Divestment
        1. Attachment 1
        2. Attachment 2
      3. Real Estate Board Investment Consultant – Special Project Request
        1. Attachment 1
    4. Consent Items
      Information Consent Items:Ted Eliopoulos
      1. Annual Calendar Review
      2. Draft Agenda for the February 2015 Meeting
      3. Monthly Update – Performance and Risk
        1. Attachment 1
        2. Attachment 2
      4. Monthly Update – Investment Compliance
        1. Attachment 1
  2. Action Agenda Items
    1. Total Fund
      1. State Legislative Proposal: Elimination or Modification of Investment Reports to the Legislature; and Clarification of Procurement Requirements Applicable to Investment ContractsDanny Brown
  3. Information Agenda Items
    1. Asset Allocation, Performance & Risk
      1. Benchmarks ReviewEric Baggesen, Jim Quinn
        1. Attachment 1
      2. Terminated Agency Pool Program UpdateEric Baggesen, Cheryl Eason, Alan Milligan
    2. Policy & Delegation
      1. Overview of Investment Office Delegation Resolutions for Professional StaffCarol Moody
        1. Attachment 1
    3. Business Plan/Road Map
      1. Investment Office Roadmap UpdateWylie Tollette
        1. Attachment 1
    4. Program Reviews
      1. Responsible Contractor Program Annual ReportTed Eliopoulos, Laurie Weir
        1. Attachment 1
        2. Attachment 2
        3. Attachment 3
        4. Attachment 4
      2. Responsible Contractor Program Policy Review UpdateTed Eliopoulos, Laurie Weir
        1. Attachment 1
        2. Attachment 2
      3. Private Equity Annual Program ReviewRéal Desrochers
        1. Attachment 1
        2. Attachment 2
      4. Consultant Review of the Private Equity ProgramMichael Moy, Pension Consulting Alliance
        1. Attachment 1
  4. Action Agenda Items
    1. Independent Oversight
      1. Contracts Administration: General Pension Investment Board Consultant Interviews and Intent to AwardWylie Tollette
    2. Public Comment

Closed Session

Upon Adjournment or Recess of Open Session
(Government Code section 11126(c)(16) and 11126(e))

  1. Agenda Items
    1. Call to Order and Roll Call
    2. Consent Items
      Action Consent Items:Ted Eliopoulos
      1. Approval of Meeting Minutes
    3. Consent Items
      Information Consent Items:Ted Eliopoulos
      1. Closed Session Activity Reports
        1. Status of Action Items Not Yet Reported
        2. Items Completed Under Delegated Authority
        3. Disclosure of Placement Agent Fees: Proposed Investments
        4. Investment Proposal Status Reports
  2. Information Agenda Items
    1. External Manager and Investment Decision Updates
      1. Private EquityRéal Desrochers
      2. Real AssetsTom McDonagh
      3. Global EquityDan Bienvenue
      4. Global Fixed Income ProgramsCurtis Ishii
      5. Absolute Return Strategies ProgramDan Bienvenue
      6. OpportunisticTed Eliopoulos

Notes

  1. Items designated for information are appropriate for Committee action if the Committee wishes to take action.
  2. The hour designated as the earliest starting time for this meeting is not intended to communicate the expected duration (or ending time) of the preceding meeting.
  3. Public comment may be taken on any Agenda item. There is a 3 minute limitation on each public comment, unless otherwise directed by the Committee Chair.

Dated: 12-08-2014