February 27, 2012
External Affairs Branch
Robert Udall Glazier, Deputy Executive Officer
Brad Pacheco, Chief, Office of Public Affairs
CalPERS Private Equity Program Adopts Standardized Reporting Form for General Partners
SACRAMENTO, CA – The California Public Employees’ Retirement System (CalPERS) is implementing an adapted version of the Institutional Limited Partners Association’s (ILPA) standardized capital call and distribution template for all of the fund’s private equity general partners.
The new detailed standardized reporting form will enable the CalPERS Alternative Investment Management (AIM) private equity program to be more focused on risk management, transparency and good governance.
All AIM general partners and fund-of-funds managers will be required to begin using the capital call and distribution template on March 1, 2012.
“Using the standardized template will sharpen our focus on risk management and compliance,” said Réal Desrochers, CalPERS Senior Investment Officer for AIM. “It will improve efficiency and transparency and helps create an industry-wide best practice for private equity investments.”
CalPERS AIM program is one of the world’s largest investors in private equity, having committed $49.5 billion to investments as of June 30, 2011.
CalPERS, with assets of approximately $235 billion, is the largest public pension fund in the U.S. It administers retirement benefits for more than 1.6 million California State, local government, and public school employees, retirees, and their families on behalf of more than 3,000 public employers, and health benefits for more than 1.3 million enrollees. The average CalPERS pension benefit is $2,332 per month. The average benefit for those who retired in the most recent fiscal year that ended June 30, 2011, is $3,065 per month. More information about CalPERS is available at www.calpers.ca.gov.